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, sending shares up 6%. The bank said that it has a solid pipeline in its investment banking business while its net interest income,

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Wells Fargo (NYSE:WFC) shares climbed more than 2% in premarket trading Wednesday after the US bank reported better-than-expected earnings per share (EPS) and net interest income for the fourth quarter of fiscal 2024.

Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A year earlier, the bank reported profit of 86 cents a share. Net interest income,

Fourth quarter net income for Wells Fargo increased to $5.08 billion from $3.45 billion compared to the same period in the previous year, the US financial services company said on Wednesday. Earnings per share were $1.