01:08 PM EST, 01/15/2025 (MT Newswires) -- Wells Fargo's ( WFC ) fourth-quarter top-line unexpectedly declined due to lower net interest income, while per-share earnings outperformed.

Revenue, expressed as the sum of net interest income and noninterest income, dipped to $20.38 billion for the three months ended Dec. 31 from $20.48 billion a year ago and missed the $20.59 billion average analyst estimate on FactSet. Earnings per share rose to $1.43 from $0.86 year over year and beat the $1.35 consensus.

Shares of Wells Fargo ( WFC ) were up 6% in Wednesday trade.

Net interest income fell 7% year over year to $11.84 billion in the fourth quarter due to factors including lower rates on floating-rate assets and reduced loan balances, according to the lender. Noninterest income advanced 11% to $8.54 billion, buoyed by venture capital investment results and investment banking fees.

Corporate and investment banking revenue slid 3% to $4.61 billion amid lower sales in banking, commercial real estate and equities. Investment banking revenue jumped 28% to $491 million, while fixed income, currencies and commodities rose 5%.

Commercial banking revenue dropped 6% to $3.17 billion. Wealth and investment management sales climbed 8% to $3.96 billion.

Provision for credit losses fell to $1.1 billion from $1.28 billion last year. The latest provision figure included a decrease in the allowance for credit losses that was partially offset by a higher allowance for credit card loans, Wells Fargo ( WFC ) said.

For 2025, the company expects net interest income to rise 1% to 3% over 2024's tally of $47.7 billion, which itself marked a decline from 2023 levels.

"We expect net interest income will be relatively stable in the first half of 2025, which includes the impact from two fewer days in the first quarter, with more growth in the second half of the year," Chief Financial Officer Michael Santomassimo said on a conference call, according to a FactSet transcript.

The incoming Trump administration's "business-friendly approach to policies and regulation" will likely benefit the economy and Wells Fargo's ( WFC ) clients, Chief Executive Charlie Scharf told analysts.

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