Wells Fargo Doesn't Change Outlook But CEO Expects Volatility And Slower Economic Environment In 2025

Wells Fargo & Company (NYSE:WFC) reported a net income of $4.89 billion on Friday, up 6% year over year in the first quarter of 2025. The bank reported GAAP EPS of $1.39, beating the consensus of $1.34. 

Revenue fell 3% year over year to $20.15 billion. Analysts expected $20.75 billion.

The U.S. banking giant reported a 6% year-over-year drop in net interest income to $11.49 billion, driven by the impact of lower interest rates on floating rate assets, deposit mix, and pricing changes, lower loan balances, partially offset by lower market funding.

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Noninterest income remained flat at $8.65 billion, including a gain on the sale of commercial non-agency third-party servicing business, an increase in asset-based fees in Wealth and Investment Management on ...

https://www.benzinga.com/news/earnings/25/04/44759629/wells-fargo-doesnt-change-outlook-but-ceo-expects-volatility-and-slower-economic-environment-in-202