Wells Fargo (WFC) · Banking
Wells Fargo Q2 2026 earnings: summary, key numbers & outlook
Results filed 14 Jul 2026 · Quarter ended 30 Jun 2026
Press release ↗Investor relations ↗
Summaries and transcripts are machine-generated and can contain errors.
In brief
Wells Fargo Reports Second Quarter 2026 Net Income of $6.4 billion, or $2.00 per Diluted Share
Wells Fargo earned $6.4 billion, or $2.00 per diluted share, up 25% from a year ago. Revenue rose 9% to $22.6 billion, with net interest income up 5% and noninterest income up 13%. Expenses grew only 2% as headcount fell 7%. Average loans grew 12% and average deposits 10%. Credit quality was strong, with net loan charge-offs at 0.34% of average loans.
Management expects 2026 net interest income of about $50 billion and noninterest expense of about $55.7 billion, both unchanged from prior guidance, and plans to lift the third quarter dividend to $0.50 per share. The main tension is that management says favorable conditions do not last forever. Net interest margin also fell to 2.43%, and the CET1 ratio dropped to 10.3% from 11.1% a year ago.
Key numbers
- Total revenue · GAAP
- $22.6B
- Wells Fargo net income · GAAP
- $6.4 billion
- Diluted earnings per common share · GAAP
- $2.00
- Efficiency ratio
- 60
- Return on average tangible common equity (ROTCE) · non-GAAP
- 17.7%
- Net interest income · GAAP
- $12.3 billion
up 9% from a year ago
up 17% from a year ago
up 25% from a year ago
down from 64 a year ago
up from 15.2% a year ago
up 5% from a year ago
| Segment or metric | Value | Change |
|---|---|---|
| Consumer Banking and Lending revenue | $10.3B | up 6% from a year ago |
| Commercial Banking revenue | $3.1B | up 6% from a year ago |
| Corporate and Investment Banking revenue | $5.4B | up 16% from a year ago |
| Wealth and Investment Management revenue | $3.9B | up 13% from a year ago |
| Markets revenue | $2.2B | up 24% from a year ago |
| Total client assets (company-wide) | 2,691 | up 15% from a year ago |
| Average loans | $1,026.5 | up 12% from a year ago |
| Average deposits | 1,465.6 | up 10% from a year ago |
Where each number comes from
- Total revenue: “Selected Company-wide Financial Information Quarter ended | Jun 30, 2026 % Change from Jun 30,2026 | Mar 31,2026 | Jun 30,2025 | Mar 31,2026 | Jun 30,2025 Earnings ($ in millions except per share amounts) Net interest income | $12,317 | 12,096 | 11,708 | 2% | 5 Noninterest income | 10,305 | 9,350 | 9,114 | 10 | 13 Total revenue | 22,622”
- Wells Fargo net income: “Wells Fargo Reports Second Quarter 2026 Net Income of $6.4 billion, or $2.00 per Diluted Share Company-wide Financial Summary”
- Diluted earnings per common share: “We generated strong second quarter results with diluted earnings per share growing to $2.00, up 25% from a year ago.”
- Efficiency ratio: “Return on equity (ROE) | 15.0 | 12.2 | 12.8 Return on average tangible common equity (ROTCE)2 | 17.7 | 14.5 | 15.2 Efficiency ratio3 | 60 | 67 | 64”
- Return on average tangible common equity (ROTCE): “ROTCE4 increased from 15.2% a year ago to 17.7% in the second quarter and 16.1% in the first half of 2026.”
- Net interest income: “Revenue of $22.6 billion, up 9% – Net interest income of $12.3 billion, up 5% – Noninterest income of $10.3 billion, up 13%”
- Consumer Banking and Lending revenue: “Auto | 320 | 295 | 241 | 8 | 33 Personal Lending | 284 | 302 | 290 | (6) | (2) Total revenue | 10,288 | 9,998 | 9,688 | 3 | 6”
- Commercial Banking revenue: “Noninterest income | 1,071 | 1,132 | 950 | (5) | 13 Total revenue | 3,118 | 3,120 | 2,933 | — | 6 Provision for credit losses | 131 | 150”
- Corporate and Investment Banking revenue: “Other | 9 | 2 | 7 | 350 | 29 Total revenue | 5,425 | 5,278 | 4,673 | 3 | 16 Provision for credit losses | (181) | 175 | 103”
- Wealth and Investment Management revenue: “Noninterest income | 2,973 | 2,970 | 2,653 | — | 12 Total revenue | 3,892 | 3,875 | 3,438 | — | 13 Provision for credit losses | 17 | (10) | 12”
- Markets revenue: “Credit Adjustment (CVA/DVA/FVA) and Other | 35 | 47 | 1 | (26) | NM Total Markets | 2,206 | 2,173 | 1,779 | 2 | 24”
- Total client assets (company-wide): “Total Company-wide client assets (in billions) | 2,691 | 2,483 | 2,346 | 8 | 15 Average balances (in billions) Loans | $91.1 | 88.4 | 81.3 | 3 | 12”
- Average loans: “Balance Sheet Data (average) ($ in billions) Loans | $1,026.5 | 996.0 | 916.7 | 3 | 12 Deposits | 1,465.6 | 1,415.0 | 1,331.7 | 4 | 10”
- Average deposits: “Balance Sheet Data (average) ($ in billions) Loans | $1,026.5 | 996.0 | 916.7 | 3 | 12 Deposits | 1,465.6 | 1,415.0 | 1,331.7 | 4 | 10”
Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.
| From the filing | Q2 2026 | vs year ago | vs last quarter |
|---|---|---|---|
| Revenue | $22.6B | +8.6% | +5.5% |
| Net income | $6.4B | +16.6% | +22.0% |
| Diluted EPS | $2.00 | +25.0% | +25.0% |
Calculated by code from XBRL, not by the model.
Outlook
| Metric | Period | Outlook |
|---|---|---|
| Net interest income | 2026 | +/- $50 billion |
| Net interest income excluding Markets | 2026 | +/- $48 billion |
| Markets net interest income | 2026 | +/- $2 billion |
| Noninterest expense | 2026 | ~$55.7 billion |
| Common stock dividend per share | third quarter of 2026 | $0.50 |
Key takeaways
Earnings per share rose 25% to $2.00
Net income of $6,407 million lifted diluted EPS to $2.00 from $1.60 a year ago. Results included $132 million, or $0.04 per share, of discrete tax benefits.
Every operating segment grew revenue year over year
Consumer Banking and Lending revenue rose 6%, Commercial Banking 6%, Corporate and Investment Banking 16% and Wealth and Investment Management 13%. Markets revenue was up 24% and Banking revenue up 20%.
Expense discipline produced positive operating leverage
Revenue grew 9% while noninterest expense rose 2%, and headcount fell 7%. The efficiency ratio improved to 60 from 64 a year ago.
Credit quality improved across portfolios
Net loan charge-offs were 0.34% of average loans, down from 0.44% a year ago. Nonperforming assets fell $824 million from the first quarter to $7,944 million.
Balance sheet growth and buybacks lowered CET1
Average loans grew 12% and the company repurchased $3.0 billion of stock, while CET1 was 10.3% versus 11.1% a year ago. The third quarter dividend is expected to rise to $0.50 per share.
Charts
Fourth quarter worked out from the annual figure.
Data
| Q4 2024 | $20.4B * |
| Q1 2025 | $20.1B |
| Q2 2025 | $20.8B |
| Q3 2025 | $21.4B |
| Q4 2025 | $21.3B * |
| Q1 2026 | $21.4B |
| Q2 2026 | $22.6B |
| Q3 2026 | $21.9B |
Data
| Q1 2025 | $1.39 |
| Q2 2025 | $1.60 |
| Q3 2025 | $1.66 |
| Q1 2026 | $1.60 |
| Q2 2026 | $2.00 |
| Q3 2026 | $1.87 |
Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.
Questions
What were Wells Fargo's second quarter 2026 results?
Wells Fargo reported net income of $6.4 billion, or $2.00 per diluted share, on revenue of $22,622 million, up 9% from a year ago. Net income was up 17% and diluted EPS up 25%.
What is Wells Fargo's outlook for 2026?
Management expects 2026 net interest income of about $50 billion, including about $48 billion excluding Markets, and noninterest expense of about $55.7 billion. Both are unchanged from prior guidance.
How is Wells Fargo's credit quality?
Net loan charge-offs were 0.34% of average loans, down from 0.44% a year ago and 0.45% in the first quarter. Nonperforming assets were 0.77% of total loans, down from 0.86%.
What is happening with Wells Fargo's capital and dividend?
The CET1 ratio was 10.3%, down from 11.1% a year ago, and the company repurchased $3.0 billion of common stock in the quarter. It expects to raise its third quarter dividend to $0.50 per share from $0.45.
Which businesses drove growth?
Corporate and Investment Banking revenue rose 16%, led by Markets up 24% and Banking up 20%. Wealth and Investment Management revenue rose 13%, with client assets up 15%.
Documents
SEC filing