Wells Fargo reported second-quarter diluted earnings per share of $2.00, a 25% increase from the prior year, driven by broad-based revenue growth and expense discipline. Total revenue rose 9% to $22.6 billion, with all operating segments generating higher net interest and noninterest income. Net interest income increased 5% to $12.3 billion, while noninterest income jumped 13% to $10.3 billion, boosted by $847 million in venture capital equity gains and record investment banking fees exceeding $900 million. Noninterest expense edged up 2% to $13.7 billion, and headcount fell for the 24th consecutive quarter to 197,000, down 15,000 from a year ago. Average loans grew 12% to $1.03 trillion and average deposits rose 10% to $1.47 trillion. The efficiency ratio improved to 60% from 64%, and return on average tangible common equity reached 17.7%, up from 15.2%. The company maintained its full-year 2026 net interest income guidance of $50 billion, plus or minus, and reiterated its expense outlook of approximately $55.7 billion. Management announced an expected 11% increase in the third-quarter common stock dividend to $0.50 per share and returned $9.8 billion to shareholders in the first half of the year, including $7 billion in common stock repurchases.
Wells Fargo & CompanyWells Fargo reported 25% EPS growth, strong revenue gains, and announced dividend increase and buybacks.