Wells Fargo (WFC) Q2 2026 Earnings
Includes $132 million, or $0.04 per share, of discrete tax benefits related to the resolution of prior period matters
How Did WFC Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +3.46%.
Did WFC Beat Earnings? Q2 2026 Results
Yes. Wells Fargo reported Q2 2026 earnings of $2.00 a share on Jul 14, 2026, beating the $1.72 consensus estimate by 16.4%. Revenue was $22.6B against a $21.9B estimate.
Wells Fargo delivered a clear beat in the second quarter of 2026, with GAAP diluted EPS of $2.00 clearing the $1.72 consensus by 16.38% and revenue of $22.62 billion topping estimates by 3.53%, even as total revenue ran 25.1% below the year-ago period. The headline EPS figure includes $132 million, or $0.04 per share, of discrete tax benefits tied to the resolution of prior-period matters. The primary engine behind the quarter's strength was broad-based revenue growth across all four operating segments, with net interest income of $12.32 billion rising 5% year over year on lower deposit costs and higher loan balances, while average loans crossed $1.00 trillion for the first time at $1.03 trillion. Corporate and Investment Banking stood out, with Markets revenue surging 24% and investment banking fees climbing 36%. The company also announced an 11% increase in its quarterly dividend to $0.50 per share. Management held full-year guidance steady, projecting net interest income of approximately $50 billion and noninterest expense of approximately $55.70 billion.
- Lower deposit costs driving NII growth
- Balance sheet growth with average loans up 12% and average deposits up 10% YoY
- Strong venture capital investment performance driving noninterest income
- Investment banking fees up 35% YoY
- Markets revenue up 24% YoY driven by equities and FICC
- Continued expense discipline with 7% headcount reduction
- Positive operating leverage with revenue up 9% vs expenses up 2%
- Consumer primary checking account growth for 13 consecutive quarters
- New credit card accounts up 46% YoY
- Auto originations up 41% YoY
- Improving credit quality with net charge-offs declining to 0.34% of average loans
“We generated strong second quarter results with diluted earnings per share growing to $2.00, up 25% from a year ago. Revenue increased 9% from a year ago with net interest income up 5% and noninterest income up 13%. Continued expense discipline drove positive operating leverage. Total expenses were up 2% from a year ago and non-revenue related expenses were lower. Consumer and commercial credit quality remained strong across all portfolios and net loan charge-offs declined 10 basis points from a year ago. ROTCE increased from 15.2% a year ago to 17.7% in the second quarter and 16.1% in the first half of 2026. Our balance sheet continued to grow with average loans increasing 12% from a year ago, with higher balances in both our consumer and commercial businesses, and average deposits increasing 10%.”
Wells Fargo CEO, on the earnings call
What Is Wells Fargo's Outlook?
Wells Fargo expects 2026 net interest income to be approximately $50 billion (unchanged from prior guidance), with NII excluding Markets of approximately $48 billion and Markets NII of approximately $2 billion. The company expects 2026 noninterest expense to be approximately $55.7 billion (unchanged from prior guidance). The third quarter 2026 common stock dividend is expected to be $0.50 per share, up 11% from $0.45, subject to board approval.
WFC YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $22.6B | $30.2B | −25.1% |
| Net Income | $6.4B | $5.5B | +16.6% |
| Operating Income | $8.0B | $6.4B | +25.0% |
WFC Revenue by Segment
When Does Wells Fargo Report Next?
Figures from SEC filings and company reports. Not investment advice.