Wells Fargo Stock Climbs as Earnings Top Estimates

Wells Fargo ( WFC ) shares climbed in pre-market trading Wednesday after the bank reported fourth-quarter profit and net interest income that topped analysts' estimates.

The lender reported $5.08 billion in net income for the quarter, up from $3.45 billion last year and above analysts' expectations. Revenue lagged estimates at $20.38 billion, down from $20.48 billion a year ago.

The bank had been expected to post fourth-quarter net income of $4.83 billion and revenue of $20.53 billion, according to consensus estimates compiled by Visible Alpha.

Net interest income fell to $11.84 billion from $12.77 billion in the fourth quarter of 2023, but that was above the $11.69 billion analysts anticipated.

Shares of Wells Fargo were up over 3% in pre-market trading following the release.

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