Wells Fargo (WFC) Tops Q3 EPS by 11c, Beats on Revenue; Offers Guidance

Wells Fargo (NYSE: WFC) reported Q3 EPS of $1.66, $0.11 better than the analyst estimate of $1.55. Revenue for the quarter came in at $21.43 billion versus the consensus estimate of $21.14 billion.

Guidance:

Expect 2025 net interest income (NII) to be roughly in line with 2024 NII of $47.7 billion, unchanged from prior guidance

Expect 4Q25 net interest income to be ~$12.4–$12.5 billion

Net interest income performance will ultimately be determined by a variety of factors, many of which are uncertain, including the absolute level of rates and the shape of the yield curve; deposit balances, mix and pricing; and loan demand

Expect 2025 noninterest expense to be ~$54.6 billion, up from prior guidance of ~$54.2 billion, and includes:

Higher severance expense of ~$200 million

Higher revenue-related compensation expense of ~$200 million, predominantly in WIM, driven by strong market performance in the second half of 2025
Expect 4Q25 noninterest expense to be ~$13.5 billion

For earnings history and earnings-related data on Wells Fargo (WFC) click here.

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