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Jun 30, 2023
Wells Fargo Q2 2023 Earnings Report
Wells Fargo reported solid results driven by net income of $4.9 billion and revenue of $20.5 billion.
Key Takeaways
Wells Fargo reported a strong second quarter with a net income of $4.9 billion and revenue of $20.5 billion. The company benefited from higher interest rates and focused on expense control. Net loan charge-offs increased, particularly in commercial real estate. The CET1 ratio was 10.7%, and $4 billion of common stock was repurchased.
Net income was $4.9 billion, or $1.25 per diluted share.
Revenue reached $20.5 billion.
The company repurchased $4.0 billion of common stock.
CET1 ratio stood at 10.7%.
Revenue by Segment
Forward Guidance
Wells Fargo anticipates continued economic slowing and uncertainty, but believes the range of scenarios will narrow over the next few quarters. The company remains prepared for various economic conditions and is committed to risk and control buildout and financial and credit risk management.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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