Wells Fargo beats by $0.16, misses on revs (63.11)
- Reports Q1 (Mar) earnings of $1.39 per share, $0.16 better than the FactSet Consensus of $1.23; revenues fell 3.4% year/year to $20.15 bln vs the $20.72 bln FactSet Consensus.
- Provision for credit losses in first quarter 2025 included a decrease in the allowance for credit losses, reflecting a lower allowance for commercial real estate loans on lower loan balances, partially offset by a higher allowance for commercial and industrial loans.
- 2025 Outlook
- Net Interest Income - Wells Fargo expects 2025 net interest income to rise ~1% to 3% versus 2024, unchanged from prior guidance.
- This forecast is subject to multiple factors including:
- Interest rate levels and the shape of the yield curve
- Deposit balances, mix, and pricing
- Loan demand
- This forecast is subject to multiple factors including:
- Noninterest Expense: Expected to be ~$54.2 billion for full-year 2025, also unchanged from prior guidance.
- Net Interest Income - Wells Fargo expects 2025 net interest income to rise ~1% to 3% versus 2024, unchanged from prior guidance.