Wells Fargo & Co (WFC) announced a profit for its third quarter that Increased, from the same period last year and beat the Street estimates.
The company's bottom line totaled $5.589 billion, or $1.66 per share. This compares with $5.114 billion, or $1.42 per share, last year.
Analysts on average had expected the company to earn $1.55 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 5.3% to $21.436 billion from $20.366 billion last year.
Wells Fargo & Co earnings at a glance (GAAP) :
-Earnings: $5.589 Bln. vs. $5.114 Bln. last year.-EPS: $1.66 vs. $1.42 last year.-Revenue: $21.436 Bln vs. $20.366 Bln last year.
Charlie Scharf, CEO of Wells Fargo, said: “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.”
WFC was up by 2.86% at $81.16 in the pre-market trade on the New York Stock Exchange.
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December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.