Wells Fargo said net income for Q4 2024 was $5,079 million, or $1.43 per diluted share, up from $3,446 million, or $0.86 per diluted share, in Q4 2023. Full-year net income was $19.7 billion, or $5.37 per diluted share.

1. 01

   Wells Fargo said net income for Q4 2024 was $5,079 million, or $1.43 per diluted share, up from $3,446 million, or $0.86 per diluted share, in Q4 2023. Full-year net income was $19.7 billion, or $5.37 per diluted share.

2. 02

   The company said net interest income for Q4 2024 was $11,836 million, down 7% from Q4 2023, and noninterest income was $8,542 million, up 11%. Total revenue was $20,378 million.

3. 03

   Wells Fargo said noninterest expense for Q4 2024 was $13,900 million, down 12% from Q4 2023. The company cited lower FDIC assessments, as Q4 2023 included $1.9 billion of FDIC special assessment, lower severance expense and the impact of efficiency initiatives as factors in the decrease.

4. 04

   The company repurchased 57.8 million shares of common stock for $4.0 billion in Q4 2024. As of December 31, 2024, the CET1 ratio was 11.1%, down from 11.3% as of September 30, 2024 and 11.4% as of December 31, 2023.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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