Truist Financial Corp (TFC) shares soared 5.16% on Friday, January 17, 2025, during the intraday trading session, following the company's impressive fourth-quarter 2024 earnings results.

The regional banking giant reported better-than-expected earnings and revenue for the quarter, driven by higher net interest income and a surge in investment banking and trading activity.

TFC reported adjusted earnings per share (EPS) of $0.91, beating analyst estimates of $0.88 and marking a 12.35% year-over-year increase. The company's revenue for the quarter came in at $5.11 billion, exceeding the consensus estimate of $5.06 billion and growing 11.21% compared to the same period last year.

The strong performance can be attributed to a 58.8% year-over-year increase in investment banking and trading income, benefiting from a robust dealmaking environment. Additionally, Truist's net interest income rose nearly 2% to $3.64 billion, with the net interest margin expanding to 3.07% from 2.95% a year earlier.

For fiscal 2025, Truist Financial provided an optimistic outlook, projecting adjusted revenue growth of 3.0% to 3.5% compared to 2024, reflecting the company's confidence in its growth prospects.