NYSE$WFC
Wells Fargo & Co · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Wells Fargo reported solid results driven by net income of $4.9 billion and revenue of $20.5 billion.
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%.
Headline financials
Revenue & EPS history
Wells Fargo · Revenue · Quarterly
$20.5B
Revenue by segment
Wells Fargo · $21.1B total across 4 segments · Q2 2023
- Consumer Banking and Lending$9.46B+11.1%44.8%
- Corporate and Investment Banking$4.63B+29.6%21.9%
- Wealth and Investment Management$3.65B-1.5%17.3%
- Commercial Banking$3.37B+35.2%16.0%
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
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.3%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
56%
40 / 72 earnings
Positive
+7.6%
Q3 2024
Best reaction
-10.9%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -4.3% | -6.0% | -15.2% | |
| Q1 2026 | +0.2% | -6.0% | -15.2% | |
| Q3 2025 | +7.0% | +5.5% | +7.3% | |
| Q2 2025 | +2.0% | -0.5% | +4.6% | |
| Q1 2025 | -1.0% | +1.4% | +14.8% | |
| Q4 2024 | +6.7% | +8.3% | +12.3% | |
| Q3 2024 | +7.6% | +10.6% | +21.3% | |
| Q2 2024 | -4.0% | +1.2% | -12.3% | |
| Q1 2024 | +0.5% | +0.9% | +9.2% | |
| Q4 2023 | -4.5% | -4.8% | -2.0% | |
| Q3 2023 | +4.8% | +4.5% | +2.9% | |
| Q2 2023 | +2.4% | +5.8% | +0.0% | |
| Q1 2023 | +4.1% | +6.5% | -5.5% | |
| Q4 2022 | +3.0% | +1.3% | +10.9% | |
| Q3 2022 | +3.7% | +2.9% | +12.2% | |
| Q2 2022 | +6.3% | +10.3% | +18.6% | |
| Q1 2022 | -2.8% | -1.5% | -12.2% | |
| Q4 2021 | +1.2% | -0.8% | +4.1% | |
| Q3 2021 | +5.1% | +9.3% | +10.7% | |
| Q2 2021 | +4.1% | -0.4% | +16.5% | |
| Q1 2021 | +6.2% | +10.3% | +18.0% | |
| Q4 2020 | -6.1% | -6.6% | -3.5% | |
| Q3 2020 | -7.2% | -8.9% | -2.7% | |
| Q2 2020 | -0.2% | -1.8% | -1.5% | |
| Q1 2020 | -9.5% | -9.7% | -23.4% | |
| Q4 2019 | -7.3% | -5.6% | -7.7% | |
| Q3 2019 | +0.6% | +1.4% | +8.6% | |
| Q2 2019 | -3.2% | -1.5% | -7.1% | |
| Q1 2019 | -2.0% | -0.4% | -1.2% | |
| Q4 2018 | +1.1% | +3.3% | +0.2% | |
| Q3 2018 | +3.5% | +5.9% | +3.1% | |
| Q2 2018 | +1.7% | +1.0% | +3.6% | |
| Q1 2018 | -3.6% | -4.4% | +3.3% | |
| Q4 2017 | -0.8% | +1.4% | -10.9% | |
| Q3 2017 | -2.6% | -3.3% | -2.5% | |
| Q2 2017 | -1.6% | -1.2% | -6.6% | |
| Q1 2017 | -0.8% | -1.3% | -0.2% | |
| Q4 2016 | -1.3% | -0.4% | +4.3% | |
| Q3 2016 | -0.6% | +1.1% | +15.6% | |
| Q2 2016 | -1.3% | -0.7% | -2.1% | |
| Q4 2015 | -4.8% | — | — | |
| Q3 2015 | +1.6% | — | — | |
| Q2 2015 | +1.8% | — | — | |
| Q1 2015 | +0.4% | — | — | |
| Q4 2014 | -2.2% | — | — | |
| Q3 2014 | -4.7% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | +0.8% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | +0.7% | — | — | |
| Q2 2013 | +3.5% | — | — | |
| Q1 2013 | -2.5% | — | — | |
| Q4 2012 | -1.8% | — | — | |
| Q3 2012 | -3.6% | — | — | |
| Q2 2012 | +3.6% | — | — | |
| Q1 2012 | -2.6% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q2 2011 | -10.9% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2007 | +2.6% | — | — | |
| Q4 2010 | +2.6% | — | — | |
| Q3 2010 | +5.8% | — | — | |
| Q2 2010 | +0.1% | — | — | |
| Q1 2010 | +5.7% | — | — | |
| Q1 2009 | -0.3% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q3 2008 | +4.1% | — | — | |
| Q3 2009 | +4.1% | — | — | |
| Q2 2009 | +2.4% | — | — | |
| Q4 2008 | +2.4% | — | — | |
| Q2 2008 | +2.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro