# Wells Fargo Q3 Profit Beats Estimates Despite Revenue Shortfall

- URL: https://stocks.freetheai.org/news/wells-fargo-q3-profit-beats-estimates-despite-revenue-shortfall-56904d
- Published: 2026-10-13T20:05:55Z
- Category: earnings; sentiment: mixed; impact: medium
- Symbols: [NYSE:WFC](https://stocks.freetheai.org/symbols/NYSE-WFC)
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Wells Fargo & Company (NYSE:WFC) reported mixed third-quarter financial results, with earnings per share surpassing expectations even as total revenue came in lower than projected. The firm delivered earnings per share of $1.87, up 13% from a year earlier and above Wall Street forecasts of $1.85. Revenue increased 2% year-over-year to $21.9 billion, falling short of expectations for $22.3 billion.

Despite the revenue miss, internal performance metrics improved. Return on tangible common equity rose to 16.3% from 15.2% in the prior-year period, while net interest margin stabilized at 2.43% quarter-over-quarter. The bank also repurchased $2.5 billion of its common stock during the period, and an analyst upgraded the shares to a buy-equivalent rating while keeping a $95 price target.

Looking forward, management expects net interest margin stability to persist into the fourth quarter. Full-year net interest income guidance was reaffirmed at roughly $50 billion, with fourth-quarter net interest income projected at around $13 billion. Additionally, non-interest expenses for 2026 were reiterated at approximately $55.7 billion.

## Key points

- Earnings per share rose 13% year over year to $1.87, beating forecasts of $1.85.
- Revenue increased 2% to $21.9 billion, missing expectations of $22.3 billion.
- Net interest margin stabilized at 2.43%, with management expecting stability to continue into Q4.
- The firm repurchased $2.5 billion of common stock during the third quarter.
- Full-year net interest income guidance was kept unchanged at around $50 billion.

## Questions and answers

### Did Wells Fargo beat Q3 earnings expectations?

Yes. Wells Fargo posted earnings per share of $1.87, exceeding the expected $1.85.

### What was Wells Fargo revenue in the third quarter?

Revenue rose 2% year over year to $21.9 billion, missing the expected $22.3 billion.

### What is Wells Fargo guidance for net interest income?

The bank kept its full-year net interest income outlook at around $50 billion, expecting roughly $13 billion in the fourth quarter.