Wells Fargo Tops Q2 Estimates, Reiterates 2026 Net Interest Income Outlook

According to CNBC, Wells Fargo reported second-quarter revenue rose 8.6% year over year to $22.62 billion, beating the $21.84 billion LSEG-compiled consensus estimate, while earnings per share increased 25% to $2 versus a $1.71 estimate; the bank said $0.04 of EPS was tied to a one-time tax benefit. Shares were down nearly 3% in afternoon trading after the results, and the stock was down about 8% year to date. The bank said it returned about $4.4 billion to shareholders in the quarter, including $3 billion of buybacks for 37.4 million shares and $1.4 billion in dividends. Wells Fargo reiterated its 2026 net interest income outlook of plus/minus $50 billion and kept its 2026 noninterest expense outlook at about $55.7 billion.