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How Wells Fargo (WFC) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/14/2026
Wells Fargo — Wells Fargo & Company is a financial services company offering banking, mortgage, investment, and insurance services to individuals and businesses.
More about the company
It is headquartered in San Francisco, California.
Key growth driver: Noninterest (Fee) Income — the fastest-growing revenue line: $10,305, +13% y/y. · by the Q2 2026 report
How does Wells Fargo make money?
Wells Fargo brought in $22.6 billion of revenue in Q2 2026, up 8.6% year over year. The largest source was Net Interest Income: $12.3 billion, or 54% of the total, followed by Noninterest (Fee) Income ($10.3B, 46%). Net income for the quarter was $6.64 billion, up 20% year over year.
Revenue by source, Q2 2026
- Net Interest Income$12.3B · 54% · +5.2%
- Noninterest (Fee) Income$10.3B · 46% · +13.1%
Shares of $22.6B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is WFC’s next earnings date?
Wednesday, October 14, 2026confirmed · before market open
Wells Fargo (WFC) is scheduled to report results for the quarter ending Sep 2026 on Oct 14, 2026. Consensus EPS forecast: $1.84 (8 analysts), vs $1.73 in the same quarter last year.
What time does WFC report? Usually before market open: the last 4 results releases reached the SEC at 6:28 am, 6:28 am, 6:28 am, 6:28 am ET.
Last report: Jul 14, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$22,622
+8.6%
Net income
$6,645
+20%
Verdict: the first clean growth quarter after the asset cap came off — revenue +9% with fee income +13% and loans +12%, pre-tax pre-provision profit +20% as expenses grew just 2%; the efficiency ratio hit 60% and ROTCE 17.7%, showing the operating leverage the cap had suppressed for years.
ROE 15.0%, ROTCE 17.7%, efficiency ratio 60%. CET1 ratio 10.3%. Net charge-offs $876M (0.34% of loans, down $121M). $132M of discrete tax benefits added $0.04 to EPS. Diluted EPS $2.00.
Source and notation
* marks non-cash / ≈ estimated. Bank layout: net interest income + fee income → revenue → expenses, provision, tax. Source: Wells Fargo press release 8-K EX-99.3 (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
WFC earnings history: past report dates
| Jul 14, 2026 Tue | 6:28 ambefore market open | Jun 30, 2026 | $22.6B+9% y/y | $2.00+25% y/y |
| Apr 14, 2026 Tue | 6:28 ambefore market open | Mar 31, 2026 | $21.4B+6% y/y | $1.60+15% y/y |
| Jan 14, 2026 Wed | 6:28 ambefore market open | Dec 31, 2025 | ≈$21.3B+4% y/y | ≈$1.61+13% y/y |
| Oct 14, 2025 Tue | 6:28 ambefore market open | Sep 30, 2025 | $21.4B+5% y/y | $1.66+17% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Wells Fargo: 5-year financials
| 2025 | 83,699 | 21,338 | 5,434 |
| 2024 | 82,296 | 19,722 | 5,133 |
| 2023 | 82,597 | 19,142 | 4,789 |
| 2022 | 74,368 | 13,677 | 4,178 |
| 2021 | 79,166 | 22,109 | 2,422 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
0/2systematically poor
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2020SEC: Wells Fargo to pay $500M for misleading investors about the success of its community bank (cross-selling via fake accounts). sec.gov ↗
- May 202310-Q Q2 2023: the court preliminarily approved a $1.0B payment in the shareholder class action over false statements about compliance with the 2018 Fed, CFPB and OCC consent orders. sec.gov ↗
- May 202310-Q Q1 2023: the company agreed to pay $300M in a shareholder suit over disclosures about auto loan insurance. sec.gov ↗
- Nov 20252025 Annual Report: the court preliminarily approved an $85M payment in a shareholder suit over false statements about hiring practices. sec.gov ↗
- Sep 201810-Q Q3 2018: the shareholder disclosure suit over "sales practices" was settled for $480M. sec.gov ↗
Scoring: 2.0 −1.0 (criterion 9: four settled shareholder suits within 10 years — $480M in 2018, $1.0B and $300M in 2023, $85M in 2025; at least one suit ≥$1B) −1.0 (criterion 10: SEC 2020, $500M for misleading investors) = 0.0
- Share classes
- Single class of common stock (NYSE: WFC) + preferred series (including convertible Series L) — standard bank capital instruments.
- Dilution
- Shares 4,134.1M (February 2021) → 3,085.6M (February 2026), −25%; SBC 1.8% of revenue.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- The 2020 cut ($0.51 → $0.10 a quarter) was due to Fed restrictions — no deduction; then raised to $1.70 in 2025.
- Lawsuits & regulators
- Settled shareholder suits: $480M (2018, fake accounts), $1.0B (2023, consent order compliance), $300M (2023, auto loan insurance), $85M (2025, hiring practices) → −1.0 (at least one suit ≥$1B). SEC 2020: $500M for misleading investors → −1.0.
- Related parties
- 2026 proxy: approval policy; no material transactions disclosed.
How the score works · checked as of Sep 2026
Wells Fargo (WFC) earnings: FAQ
How does Wells Fargo make money?
Wells Fargo brought in $22.6 billion of revenue in Q2 2026, up 8.6% year over year. The largest source was Net Interest Income: $12.3 billion, or 54% of the total, followed by Noninterest (Fee) Income ($10.3B, 46%). Net income for the quarter was $6.64 billion, up 20% year over year.
When is WFC's next earnings date?
Wells Fargo (WFC) is scheduled to report on Oct 14, 2026, before market open.
What time does WFC report earnings?
Wells Fargo is scheduled to report before market open on Oct 14, 2026. Its last results releases were filed before market open, most recently at 6:28 am ET on Jul 14, 2026.
When did WFC last report earnings?
Wells Fargo reported Q2 2026 results on Jul 14, 2026.
What is the EPS estimate for WFC's next earnings?
The consensus EPS forecast is $1.84 (8 analysts), vs $1.73 in the same quarter last year.
Where can I find Wells Fargo's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to WFC's filings; this page breaks the latest report down in a Sankey chart.
What was WFC's net income in Q2 2026?
Wells Fargo reported net income of $6,645M for Q2 2026 (+20% year over year), under US GAAP.
Does Wells Fargo pay dividends?
Yes. In 2025, Wells Fargo paid $5,434M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report; the short company description was also written by our model. Figures checked against the filing on 08/26/2026. How we make the breakdowns · Report an error
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