Wells Fargo reported second quarter 2026 revenue of $22.62 billion and diluted EPS of $2.00, surpassing analyst expectations. The results were driven by broad-based revenue growth across all operating segments, including a 5% increase in net interest income and a 13% rise in noninterest income year-over-year.
Key Highlights
- The bank's profitability improved significantly, with Return on Tangible Common Equity (ROTCE) reaching 17.7%, up from 15.2% a year ago.
- Strong balance sheet growth was evident as average loans increased 12% and average deposits grew 10% year-over-year.
- Corporate and Investment Banking was a notable driver of performance, with its revenue increasing 16% from a year ago, including a 20% rise in Banking revenue and a 24% rise in Markets revenue.
- The company returned $3.0 billion to shareholders through the repurchase of 37.4 million shares of common stock during the quarter.