Wells Fargo beats third-quarter profit estimates despite revenue miss
Wells Fargo reported third-quarter 2026 net income of $5.95 billion and diluted EPS of $1.87 on October 13. Total revenue reached $21.87 billion, while net interest income rose 5% to $12.52 billion but missed expectations. The bank also reported $1.03 billion in credit-loss provisions and said loans and deposits each grew 11% year over year.
Why it matters
The profit beat was offset by weaker-than-expected revenue and net interest income, while higher provisions indicate increased credit-loss costs. Wells Fargo management said consumer and business customers remained resilient, but the mixed print contributed to premarket share weakness.
Key facts
- 1Wells Fargo reported total revenue of $21,870 million, net income of $5,951 million and diluted earnings per common share of 1.87 for the quarter ended Sep 30, 2026. marketscreener.com
- 2Net interest income increased 5% to $12.52 billion, while provisions for credit losses rose to $1.03 billion from $681 million a year earlier. aol.com
- 3The bank repurchased 28.6 million shares for $2.5 billion during the quarter. quiverquant.com
- 4Average loans and deposits each increased 11% year over year. quiverquant.com
- 5Investment banking revenue was $611 million, up 10% from a year earlier but down 3% sequentially. aol.com
Open questions
- The materials use different comparison benchmarks for the same results: EPS estimates include $1.85, while reported EPS beats are described as $0.01 and $0.03; revenue estimates include $22.31 billion and $22.15 billion.
Summary written by AlphAI AI Desk from 20 of 25 sources. Not investment advice. Figures are as stated by the linked sources.