Wells Fargo Profit Rises 17% As It Cuts Staff
Diluted earnings jumped 25% to $2.00 a share, lifted by a $132 million tax benefit and $3 billion in stock buybacks.
- Net income hit $6.4 billion, up 17% from a year earlier.
- Noninterest expense rose only 2% even as headcount fell 7% year over year.
- Board plans an 11% dividend hike to $0.50 a share next quarter, pending approval.
Why it matters: Profit grew while the workforce shrank; the gain flows to shareholders, not to the workers who produced it.
Wells Fargo & Company Q2 2026 earnings press release ↗ · Jul 14, 20267/14/26 · ✓ Checked✓ Check