Wells Fargo Stock Climbs as Earnings Top Estimates

Core Insights - Wells Fargo (WFC) shares increased in pre-market trading after reporting fourth-quarter profit and net interest income that exceeded analysts' expectations [1][2] - The bank's net income for the quarter was $5.08 billion, a rise from $3.45 billion year-over-year, surpassing analyst forecasts [1][2] - Revenue for the quarter was $20.38 billion, slightly below estimates and down from $20.48 billion a year ago [1][2] Financial Performance - The consensus estimate for fourth-quarter net income was $4.83 billion, while revenue was expected to be $20.53 billion [2] - Net interest income decreased to $11.84 billion from $12.77 billion in the fourth quarter of 2023, but was above the anticipated $11.69 billion [2] - Following the earnings release, Wells Fargo shares rose over 3% in pre-market trading [2]