Q1 25 EPS
$1.39
BEAT +13.31%
Est. $1.23
Q1 25 Revenue
$20.15B
MISS 2.94%
Est. $20.76B
vs S&P Since Q1 25
-0.5%
TRAILING MARKET
WFC +34.5% vs S&P +35.0%
Market Reaction
Did WFC Beat Earnings? Q1 2025 Results
Wells Fargo delivered a notably strong first-quarter earnings beat on the bottom line, even as revenue fell short of expectations. The bank posted EPS of $1.39 against a consensus estimate of $1.23, a 13.31% beat, while revenue of $20.15 billion trai… Read more Wells Fargo delivered a notably strong first-quarter earnings beat on the bottom line, even as revenue fell short of expectations. The bank posted EPS of $1.39 against a consensus estimate of $1.23, a 13.31% beat, while revenue of $20.15 billion trailed the $20.76 billion estimate by 2.94% and dropped sharply year-over-year. The per-share outperformance was driven largely by an aggressive share buyback program that reduced diluted shares outstanding by 8%, combined with disciplined expense management and improved credit quality, with net charge-offs declining to 45 basis points from 50 a year ago. Net interest income remained under pressure, slipping 6% to $11.49 billion as rate cuts and deposit mix shifts weighed on margins. On the regulatory front, Wells Fargo closed five additional consent orders during the quarter, a milestone that reinforced confidence in the bank's long recovery arc. Management held its full-year guidance steady, projecting net interest income growth of 1% to 3% over 2024 and noninterest expense of approximately $54.20 billion, even as trade policy uncertainty clouds the broader economic outlook. Shareholders have benefited from the bank's commitment to returning capital through both buybacks and dividends.
Key Takeaways
- • Fee-based revenue growth across core businesses
- • 16% diluted EPS growth year-over-year
- • 8% reduction in diluted common shares through buybacks
- • Noninterest expense down 3% year-over-year from lower operating losses and efficiency initiatives
- • Net charge-offs declined 13% year-over-year to 0.45% of average loans annualized
- • Investment banking fees up 24% year-over-year on increased debt capital markets activity
- • Asset-based fees in Wealth and Investment Management up on higher market valuations
- • $263 million gain on sale of commercial non-agency third-party servicing business
- • $313 million discrete tax benefits reducing effective tax rate to 9.6%
- • Five consent orders closed during the quarter
WFC YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
WFC Revenue by Segment
With YoY comparisons, source: SEC Filings
“We produced solid results with diluted earnings per share increasing 16% from a year ago reflecting fee-based revenue growth across many of our core businesses, continued expense discipline, improved credit results, and an 8% reduction in diluted common shares as we continued to return capital to shareholders. I am excited about the momentum we are building across our businesses as we work to build one of the most respected financial institutions in the country.”
— Charlie Scharf, Q1 2025 Earnings Press Release
WFC Earnings Trends
WFC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WFC EPS Trend
Earnings per share: estimate vs actual
WFC Revenue Trend
Quarterly revenue: estimate vs actual
WFC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.60 | — | $21.45B | — |
| Q4 25 MISS FY | $1.67 | $1.62 | -2.99% | $21.29B | — |
| FY Full Year | $6.31 | $6.26 | -0.87% | $83.70B | -0.45% |
| Q3 25 BEAT | $1.55 | $1.66 | +7.43% | $21.44B | +1.29% |
| Q2 25 BEAT | $1.40 | $1.60 | +14.10% | $20.82B | +0.28% |
| Q1 25 BEAT | $1.23 | $1.39 | +13.31% | $20.15B | -2.94% |