Shares of Wells Fargo & Company WFC jumped 4.6% in the pre-market trading session today as the company reported its fourth-quarter 2024 adjusted earnings per share of $1.42, which surpassed the Zacks Consensus Estimate of $1.

Wells Fargo closed 2024 with a strong fourth quarter, reporting a $5.1 billion net income and a 47% year-over-year earnings increase. Asset-based lending and leasing revenue declined 12% year over year to $1.

Welcome, and thank you for joining the Wells Fargo fourth-quarter 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] Please note that today's call is being recorded.