Q2 25 EPS
$1.60
BEAT +14.10%
Est. $1.40
Q2 25 Revenue
$20.82B
BEAT +0.28%
Est. $20.76B
vs S&P Since Q2 25
-11.7%
TRAILING MARKET
WFC +4.2% vs S&P +15.8%
Market Reaction
Did WFC Beat Earnings? Q2 2025 Results
Wells Fargo delivered a standout second quarter in 2025, posting earnings per share of $1.60 against a consensus estimate of $1.40, a beat of 14.10%, while revenue of $20.82 billion edged past expectations by 0.28%. The quarter's defining moment, how… Read more Wells Fargo delivered a standout second quarter in 2025, posting earnings per share of $1.60 against a consensus estimate of $1.40, a beat of 14.10%, while revenue of $20.82 billion edged past expectations by 0.28%. The quarter's defining moment, however, was the lifting of the Federal Reserve's long-standing asset cap, a constraint CEO Charlie Scharf described as a pivotal milestone, which now frees the bank to pursue more aggressive growth across its consumer, commercial, and community banking businesses. Net income climbed to $5.49 billion, up from $5.49 billion a year ago, with noninterest income rising 4% to $9.11 billion as investment banking fees and asset-based wealth management revenues gained ground. Credit quality also improved, with net charge-offs falling to 44 basis points annualized from 57 basis points a year prior. Looking ahead, Wells Fargo expects 2025 net interest income to track roughly in line with 2024's $47.70 billion, and the board approved a dividend increase to $0.45 per share for the third quarter, up 12.5% from the prior period.
Key Takeaways
- • Lifting of Federal Reserve asset cap enabling unrestricted growth
- • Termination of thirteen consent orders since 2019 including seven in 2025
- • Fee-based income growth driving revenue expansion
- • Higher asset-based fees in Wealth and Investment Management on higher market valuations
- • Higher investment banking fees including advisory fees
- • Lower deposit pricing improving net interest income sequentially
- • Efficiency initiatives reducing headcount and operating costs
- • Improved credit quality with net charge-off ratio declining to 0.44% from 0.57% YoY
- • Merchant services joint venture acquisition contributing to card fee growth
- • Strong capital position enabling significant share repurchases
WFC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
WFC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second quarter results reflect the progress we are making to consistently produce stronger financial results with net income and diluted earnings per share up from both the first quarter and a year ago. Our efforts to increase fee-based income drove revenue growth and both net interest income and noninterest income grew from the first quarter. We are investing in our businesses but remain focused on expense management. While there continue to be risks as we look forward, activity levels have remained consistent and our strong credit performance continues to point to the strength of our commercial and consumer customers' financial position.”
— Charlie Scharf, Q2 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% |