Q1 26 EPS
$1.60
BEAT +1.05%
Est. $1.58
Q1 26 Revenue
$21.45B
MISS 1.58%
Est. $21.79B
Did WFC Beat Earnings? Q1 2026 Results
Wells Fargo delivered a solid first quarter for 2026, posting earnings of $1.60 per share on revenue of $21.45 billion, as broad-based growth across all four operating segments painted a picture of a bank firing on multiple cylinders. The clearest en… Read more Wells Fargo delivered a solid first quarter for 2026, posting earnings of $1.60 per share on revenue of $21.45 billion, as broad-based growth across all four operating segments painted a picture of a bank firing on multiple cylinders. The clearest engine behind the results was a 5% year-over-year rise in net interest income to $12.10 billion, fueled by higher deposit balances, lower deposit costs, and fixed-rate asset repricing, even as net interest margin compressed to 2.47% from 2.67% a year ago. Noninterest income added to the momentum, climbing 8% year-over-year to $9.35 billion, with investment advisory fees up 10% and trading gains jumping 38% from the prior quarter. Capital deployment remained assertive, with the company buying back $4.00 billion in common stock during the period. Looking ahead, management held its full-year guidance steady, projecting 2026 net interest income of approximately $50.00 billion and noninterest expense of approximately $55.70 billion, signaling confidence in the underlying trajectory of the business.
Key Takeaways
- • Net interest income up 5% YoY driven by higher deposit balances, lower deposit costs, improved Markets results, and fixed rate asset repricing
- • Noninterest income up 8% YoY driven by higher investment advisory fees on higher market valuations and higher trading activity
- • Broad-based revenue growth with all four operating segments increasing revenue YoY
- • Average loans up 10% YoY driven by commercial and industrial, auto, securities-based lending, and credit card growth
- • Average deposits up 6% YoY across all operating segments
- • Positive operating leverage with headcount down 7% YoY and continued expense discipline
- • Consumer checking account openings up more than 15% YoY
- • Credit card new accounts up nearly 60% YoY
- • Auto originations more than 2x prior year
WFC YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
WFC Revenue by Segment
With YoY comparisons, source: SEC Filings
“We saw continued positive impacts from the investments we have been making with diluted earnings per share increasing 15%, revenue increasing 6%, loans increasing 11%, and deposits increasing 7% compared to a year ago. Revenue growth was driven by both a 5% increase in net interest income and an 8% increase in noninterest income. Credit performance remained strong with net loan charge-offs stable at 45 basis points. We returned $4 billion to shareholders through common stock repurchases while continuing to operate with significant excess capital.”
— Charlie Scharf, Q1 2026 Earnings Press Release
WFC Earnings Trends
WFC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WFC EPS Trend
Earnings per share: estimate vs actual
WFC Revenue Trend
Quarterly revenue: estimate vs actual
WFC Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | $1.72 | — | — | — | — |
| Q1 26 BEAT | $1.58 | $1.60 | +1.05% | $21.45B | -1.58% |
| Q4 25 MISS FY | $1.67 | $1.62 | -2.85% | $21.29B | -1.79% |
| FY Full Year | $6.31 | $6.26 | -0.87% | $83.70B | -0.45% |
| Q3 25 BEAT | $1.55 | $1.66 | +7.43% | $21.44B | +1.29% |
| Q2 25 BEAT | $1.40 | $1.60 | +14.10% | $20.82B | +0.28% |
| Q1 25 BEAT | $1.23 | $1.39 | +13.31% | $20.15B | -2.94% |