Wells Fargo shares rise after Q1 profit climbs

Major U.S. lender Wells Fargo's WFC.N shares rise 2.1% to $64.43 premarket after Q1 profit rises, helped by strength in its wealth management business

Investment advisory fees and brokerage commissions rise 7%

Co's net income rose 5.8% to $4.89 billion

Net interest income fell 6% in Q1

Co reiterates 2025 NII growth forecast of 1% to 3%

WFC shares are down 10.2% YTD, compared to a 10.4% fall in the S&P 500 .SPX; shares rose 42.7% in 2024