Wells Fargo Q4 Results: Profit beats estimates on dealmaking rebound as it raises interest income forecast
Wells Fargo's profit beat expectations in the fourth quarter powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year.
The bank's shares rose 3.5% to $73.68 in premarket trading on Wednesday.
Wall Street was bolstered by a rebound in activity last year. Increasing confidence spurred companies to issue equity and debt. Corporations also struck deals, lifting volumes from a decade low in 2023.
«There's a sense of optimism that people have for the activity levels that we should see in 2025 — that obviously needs to translate into actual deal activity,» Wells Fargo's Chief Financial Officer Michael Santomassimo said.
«Market participants feel more confident in their ability to execute on M&A.»
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