Wells Fargo drops as Q1 revenue and net interest income miss estimates
Wells Fargo shares fell after Q1 2026 results showed revenue of $21.45B that missed expectations, despite net income of $5.25B and EPS of $1.60. Net interest income came in at $12.10B, below forecasts, pressuring the stock even as profits rose year over year.
1. What’s driving WFC lower today
Wells Fargo is trading lower after reporting first-quarter 2026 earnings that showed a top-line miss. The bank posted revenue (net of interest expense) of $21.45 billion, which came in below Wall Street expectations, and investors also focused on net interest income landing at $12.10 billion versus estimates that were higher.
2. The quarter in numbers
For the quarter, Wells Fargo reported net income of about $5.25 billion and diluted EPS of $1.60. Revenue totaled $21.446 billion, up year over year but short of consensus, while net interest income was $12.096 billion and slightly down sequentially, reinforcing concerns that rate dynamics and mix are limiting near-term NII upside.
3. What investors are watching next
After the revenue and NII shortfall, the key near-term catalyst is management’s commentary on the full-year 2026 net interest income path and how quickly deposit pricing, loan growth, and balance-sheet mix can stabilize margins. Investors are also monitoring expense discipline—given higher noninterest expense in the quarter—and whether credit costs remain contained as net charge-offs and provisioning stay in focus.