Wells Fargo (NYSE:WFC) third-quarter earnings exceeded analyst forecasts, pushing its stock up more than 5% on Friday. The bank reported adjusted earnings per share of $1.42, above the expected $1.28, although total revenue slightly missed estimates, coming in at $20.37 billion against projections of $20.39 billion. Net income dropped to $5.1 billion from $5.8 billion year-over-year as total revenue declined by 2%. The results benefited from reductions in expenses and credit costs, helping offset the revenue dip. Despite an 11% decrease in net interest income, down to $11.69 billion due to higher funding costs driven by customer shifts toward higher-yield deposit products, noninterest income rose 12% to $8.68 billion. This uptick in fee-based income contributed to balanced revenue growth over the first nine months, partially offsetting the impact of lower interest income. The bank's efficiency ratio remained stable at 64%, matching the previous quarter. Additionally, Wells Fargo’s Common Equity Tier 1 capital ratio improved to 11.3% from 11.0%, reflecting a robust capital standing.