| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 21.4K | 6.4% |
| Total Income | 21.4K | 6.4% |
| Expenditure | 15.5K | 4.3% |
| PBT | 6.0K | 12.3% |
| Net Profit | 5.3K | 7.3% |
| OPM | 27.89% | 1.46pp |
| NPM | 24.49% | 0.20pp |
| EPS | 1.62 | 14.9% |
Wells Fargo Reports Q1 2026 Net Income of $5.3 billion, $1.60 per Share
14 Apr 2026 · 14 Apr, 3:58 pm
Summary
Wells Fargo reported a net income of $5.3 billion, or $1.60 per diluted share, for the first quarter of 2026. Total revenue increased by 6% to $21.446 billion, driven by a 5% increase in net interest income and an 8% increase in noninterest income. Average loans grew by 10% to $996.0 billion, and average deposits increased by 6% to $1,415.0 billion. Chairman and CEO Charlie Scharf noted the positive impacts from investments, contributing to broad-based revenue growth across all operating segments.
Key Highlights
- 1
Wells Fargo reported first quarter 2026 net income of $5.3 billion, or $1.60 per diluted share.
- 2
First quarter revenue increased by 6% to $21.446 billion compared to the same period last year.
- 3
Net interest income grew by 5% to $12.1 billion in the first quarter of 2026.
- 4
Noninterest income increased by 8% to $9.4 billion for Q1 2026.
- 5
Average loans increased by 10% to $996.0 billion compared to Q1 2025.
- 6
Average deposits increased by 6% to $1,415.0 billion year-over-year.
- 7
The company repurchased 46.3 million shares, amounting to $4.0 billion, of common stock in the first quarter of 2026.
Management Comments
Charlie Scharf
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
Our consistent focus on investing across all of our businesses helped contribute to broad-based revenue growth, with each of our operating segments increasing revenue from a year ago. Consumer Banking and Lending revenue grew 7% and Commercial Banking grew 7% as well. Within our Corporate and Investment Bank we saw an 11% increase in Banking revenue and a 19% increase in Markets revenue. Wealth and Investment Management grew 14%.
Charlie Scharf
In our credit card business, we launched two new cards in the first quarter, and the product enhancements we have made over the past five years drove higher card fees and purchase volume. Auto originations and balances increased, and new consumer checking account openings were higher. We continued to see momentum in our Wealth and Investment Management business with client assets growth of 11% to $2.2 trillion. Strong customer engagement helped to drive higher loan and deposit balances in Commercial Banking. We continued to grow our Investment Banking business, including increasing market share in Equity Capital Markets in the first quarter, and we ended the quarter with a strong investment banking pipeline.
Charlie Scharf
While markets have been volatile, we still see continued resiliency in the underlying economy and the financial health of the consumers and businesses we serve remains strong, though the impact of higher oil prices will likely take some time to materialize. We will continue to monitor trends and respond accordingly, and we are well positioned to support our customers across a range of economic scenarios. We have clear strategic plans in place that are focused on growing returns by using our broad set of capabilities. I am encouraged by the momentum we are seeing and confident in our ability to continue to grow across our businesses.
Informational and educational content only. Not investment advice.