Why it matters
- Wells Fargo reported third-quarter net income of $5.95 billion, or $1.87 a diluted share, on Tuesday, Oct. 13, up from $1.66 a share a year earlier, the bank said.
- Revenue rose 2% to $21.87 billion, below the $22.15 billion analysts expected, while earnings per share beat the $1.85 consensus, the Associated Press reported, citing Zacks.
- Wells Fargo shares traded at about $81.00 before the opening bell, down about 2.8% from Monday's close of $83.32, according to Yahoo Finance data.
Wells Fargo shares fell about 2.8% in premarket trading on Tuesday, Oct. 13, after the bank's third-quarter revenue came in below Wall Street forecasts, even as profit rose. The stock traded at about $81.00 at 8:55 a.m. ET, down from Monday's close of $83.32, according to Yahoo Finance data.
Wells Fargo earned $5.95 billion, or $1.87 a diluted share, up from $5.59 billion, or $1.66 a share, a year earlier, the bank said in its earnings release. Total revenue rose 2% to $21.87 billion.
Did Wells Fargo beat or miss estimates?
Both. Earnings per share of $1.87 topped the $1.85 average estimate of eight analysts surveyed by Zacks Investment Research, the Associated Press reported. Revenue net of interest expense of $21.87 billion fell short of the $22.15 billion that seven analysts surveyed by Zacks expected, according to the AP.
Wells Fargo Q3 2026 results at a glance
| Measure | 3Q 2026 | 3Q 2025 | Change |
|---|---|---|---|
| Total revenue | $21.87 billion | $21.44 billion | +2% |
| Net interest income | $12.52 billion | $11.95 billion | +5% |
| Noninterest income | $9.35 billion | $9.49 billion | -1% |
| Provision for credit losses | $1.03 billion | $681 million | +51% |
| Net income | $5.95 billion | $5.59 billion | +6% |
| Diluted EPS | $1.87 | $1.66 | +13% |
Source: Wells Fargo third-quarter 2026 earnings release.
What weighed on the quarter?
Fee income and credit costs. Noninterest income fell 1% from a year earlier and 9% from the second quarter. Chief Executive Charlie Scharf said lower revenue from venture capital investments and lower lease income, after the sale of the bank's rail car leasing business in the first quarter, partly offset growth elsewhere.
The provision for credit losses rose to $1.03 billion from $681 million a year earlier, and net charge-offs rose 3% to $983 million, the bank said. Its common equity Tier 1 capital ratio was 10.0%, down from 11.0% a year earlier.
What went well?
Loans, deposits and returns. Average loans and average deposits both rose 11% from a year earlier, and return on tangible common equity rose to 16.3% from 15.2%, Wells Fargo said. Noninterest expense fell 1% to $13.74 billion. The bank bought back 28.6 million shares, or $2.5 billion of stock, in the quarter.
"While higher interest rates, higher oil prices and persistent inflation create risks to the economy, strong positive forces such as the investment in AI infrastructure, high employment levels and consistent wage growth continue to outweigh the risks," Scharf said.
Goldman Sachs and JPMorgan Chase also reported on Tuesday. See Goldman Sachs Q3 Earnings Jump 39% to $17.01 a Share, Top Estimates, and follow more results in our companies section.
Sources
- Wells Fargo, Third Quarter 2026 earnings news release (Exhibit 99.1 to Form 8-K, Oct. 13, 2026)
- The Associated Press, via WTOP, Wells Fargo: Q3 Earnings Snapshot (Oct. 13, 2026)
- Yahoo Finance, chart data for Wells Fargo (WFC)
