Wells Fargo reports Q3 EPS $1.66, consensus $1.55

Reports Q3 revenue $21.44B, consensus $21.16B. 3Q25 results included $(296) million, or $(0.07) per share, of severance expense, Wells said. Chairman and Chief Executive Officer Charlie Scharf commented, “The momentum we are building across our businesses drove strong financial results in the third quarter with net income and diluted earnings per share both up from a year ago and the second quarter. Revenue grew with higher net interest income and strong, broad-based growth in fee-based income across both our consumer and commercial businesses. We grew our balance sheet, including the highest linked-quarter loan growth in over three years. Credit performance was strong and continued to improve. We returned a significant amount of capital to our shareholders in the third quarter including increasing our common stock dividend by 12.5% and repurchasing $6.1 billion of common stock.” “While some economic uncertainty remains, the U.S. economy has been resilient and the financial health of our clients and customers remains strong. Spending on debit and credit cards continued to increase, auto loan originations had strong growth from a year ago, and total client assets in our Wealth and Investment Management business continued to grow. We grew fees from investment banking and trading and our commercial loan balances continued to grow,” Scharf added.