Wells Fargo Q2 Earnings Beat on NII & Fee Income Growth, Stock Up

Wells Fargo’s Q2 performance beat expectations as improved net interest income and fee revenue supported higher profitability. The company reported second-quarter 2026 adjusted earnings per share of $1.96, above the Zacks Consensus Estimate of $1.73, compared with $1.54 in the prior-year quarter. Shares rose nearly 1.5% in early trading. Full-day trading was expected to clarify the reaction. Results benefited from higher loan balances, improved deposits, increased non-interest income and lower provisions for credit losses, while non-interest expenses rose and remained a headwind. GAAP net income totaled $6.41 billion, up 16.6% year over year, and total revenue increased to $22.62 billion. Net interest income was $12.32 billion, up 5.2%, though the net interest margin fell 25 basis points to 2.43%. Credit quality improved, with the provision at $914 million and net charge-offs at 0.34% of average loans.