10 Companies Jump on Better Earnings, Outlook

8. Banco Santander SA (NYSE:SAN)

Shares in Banco Santander jumped by 9.55 percent on Wednesday to finish at $5.62 apiece as investors cheered news of record profits in the fourth quarter and full year of 2024.

In a statement, Banco Santander said net income from October to December 2024 increased by 11 percent to €3.27 billion ($3.4 billion) year-on-year, while net profit for the full year rose by 14 percent to €12.57 billion ($13.08 billion), marking its third consecutive year of record profits.

Banco Santander said its strong performance can be attributed to its robust lending income, albeit seeing revenues from loans this year falling amid projected interest rate cuts.

“Santander is in a new era of value creation, and we are confident that our scale, diversification, and the impact of our transformation will enable us to increase profitability again in 2025,” the company said.