Yahoo Finance

• Diluted Earnings Per Share: Up 16% from a year ago.

• Net Income: $4.9 billion or $1.39 per diluted common share.

• Revenue: Declined from a year ago due to lower net interest income.

• Fee-Based Revenue: Growth across many businesses.

• Expenses: Declined 3% from a year ago.

• Capital Returned to Shareholders: $4.8 billion through dividends and share repurchases.

• Net Loan Charge-Off Ratio: Down to 45 basis points of average loans.

• Allowance for Credit Losses: Down $84 million from the fourth quarter.

• Average Deposits: Increased from a year ago.

• Commercial Loan Balances: Modest growth from the fourth quarter.

• Net Interest Income: Down $341 million or 3% from the fourth quarter.

• Non-Interest Income: Stable compared to a year ago.

• Credit Card Revenue: Grew 2% from a year ago.

• Auto Revenue: Decreased 21% from a year ago.

• Commercial Real Estate Revenue: Grew 18% from a year ago.

• Wealth and Investment Management Revenue: Increased 4% compared with a year ago.

• 2025 Net Interest Income Outlook: Expected to be approximately 1% to 3% higher than in 2024.

• 2025 Non-Interest Expense Outlook: Expected to be approximately $54.2 billion.

• Warning! GuruFocus has detected 2 Warning Sign with WFC.

Release Date: April 11, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Wells Fargo & Co (NYSE:WFC) reported a 16% increase in diluted earnings per share from a year ago, indicating strong financial performance.

• The company successfully grew its fee-based revenue across various businesses, reducing reliance on net interest income.

• Wells Fargo & Co (NYSE:WFC) returned $4.8 billion of capital to shareholders through dividends and share repurchases, reflecting strong capital management.

• The company achieved significant progress in closing five consent orders in the first quarter, demonstrating improvements in risk and control processes.

• Credit performance improved with lower net charge-offs, particularly in the commercial portfolio, indicating strong credit discipline.

Negative Points

• Net interest income declined by 3% from the fourth quarter, driven by lower rates and fewer days in the quarter.

• Revenue declined in several segments, including Consumer Banking and Lending, due to higher deposit costs and lower net interest income.

• Non-performing assets increased by 4% in the fourth quarter, driven by an increase in commercial and industrial non-accrual loans.

• The company faces ongoing economic uncertainty and potential volatility, which could impact future financial performance.

• Wells Fargo & Co (NYSE:WFC) continues to operate under an asset cap, limiting its ability to grow certain business segments.