
• Reported GAAP EPS of $1.62 up 14.89% YoY • Reported revenue of $21.45B up 6.44% YoY
Bullish
Wells Fargo achieved broad-based revenue growth across all segments, notably a 14% increase in Wealth and Investment Management, and returned $4.0 billion to shareholders via repurchases.
Bearish
Increased noninterest expenses, a significant decline in Commercial Real Estate revenue, and rising commercial and consumer net loan charge-offs indicate some operational and credit quality pressures for Wells Fargo.