Wells Fargo reported first-quarter 2026 net income of $5.3 billion, up from $4.9 billion a year earlier, as revenue rose to $21.4 billion from $20.1 billion.
Diluted earnings per share increased to $1.60 from $1.39, while total revenue climbed 6% year over year. Net interest income rose to $12.1 billion from $11.5 billion, and noninterest income increased to $9.35 billion from $8.65 billion.
Average loans grew to $996.0 billion from $908.2 billion, an 11% increase, and average deposits rose to $1.415 trillion from $1.339 trillion, up 7%.
The quarter’s provision for credit losses jumped to $1.135 billion from $932 million a year earlier. Net loan charge-offs were $1.106 billion, compared with $1.009 billion in the prior-year quarter.
Noninterest expense increased to $14.33 billion from $13.89 billion.
Return on equity improved to 12.2% from 11.5%, while return on average tangible common equity rose to 14.5% from 13.6%. The common equity tier 1 ratio declined to 10.3% from 11.1% a year earlier.
The company repurchased 46.3 million shares, spending $4.0 billion in the quarter.
By segment, consumer banking and lending revenue rose 7% to $9.998 billion, commercial banking revenue increased 7% to $3.120 billion, corporate and investment banking revenue climbed 4% to $5.278 billion, and wealth and investment management revenue advanced 14% to $3.875 billion.
Corporate and investment banking posted the biggest year-over-year revenue jump in markets, with total markets revenue up 19% to $2.173 billion. Within that, fixed income, currencies and commodities revenue increased 15% to $1.583 billion, and equities revenue rose 21% to $543 million.
Wealth and investment management ended the quarter with $2.483 trillion in client assets, up 11% from $2.233 trillion a year earlier. Today the company's shares have moved -1.54% to a price of $79.02. For more information, read the company's full 8-K submission here.
