---
schema_version: "secwatch.filing_event.v1"
accession: "0000072971-23-000083"
form_type: "8-K"
ticker: "WFC"
cik: "0000072971"
company_name: "WELLS FARGO & COMPANY/MN"
filed_at: "2023-04-14T23:59:59+00:00"
generated_at: "2026-06-17T02:16:15.112227+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Wells Fargo Q1 net income $5.0B, EPS $1.23; revenue $20.7B, up 17% YoY

## Summary
- Net income of $4.991B ($1.23 diluted EPS) vs $3.788B ($0.91) a year ago; revenue $20.729B, up 17% YoY.
- Provision for credit losses $1.207B vs negative $787M in Q1 2022; net charge-offs slowly increasing.
- CET1 ratio improved to 10.8% (preliminary); repurchased 86.4M shares for $4.0B during the quarter.
- Average loans $948.7B (+5.6% YoY); average deposits $1,356.7B (-7.3% YoY).
- CEO cited strong revenue growth, efficiency progress, and resumed buyback amid banking industry stress.

## SEC filing metadata
- accession: 0000072971-23-000083
- form_type: 8-K
- ticker: WFC
- cik: 0000072971
- company_name: WELLS FARGO & COMPANY/MN
- filed_at: 2023-04-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72971/000007297123000083/0000072971-23-000083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72971/000007297123000083/wfc-20230414.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072971-23-000083
- JSON: https://secwatch.observer/filing/0000072971-23-000083.json
- Plain text: https://secwatch.observer/filing/0000072971-23-000083.txt

## Key facts
- Earnings Releases
  WELLS FARGO & COMPANY/MN reported the quarter ended March 31, 2023 results: revenue $ 20,729, net income $5.0 billion, EPS $1.23 per Diluted Share.
  - Period: the quarter ended March 31, 2023
  - Revenue: $ 20,729
  - Net income: $5.0 billion
  - EPS: $1.23 per Diluted Share
  - Result: reported results
  source text: per Diluted Share Company-wide Financial Summary Quarter ended Mar 31, 2023 Mar 31, 2022 Selected Income Statement Data ($ in millions except per share amounts) Total revenue $ 20,729 17,728 Noninterest expense 13,676 13,851 Provision for credit losses 1 1,207 (787) Net income 4,991 3,788 Diluted earnings per common share 1.23 0.91 Selected Balance Sheet Data
  evidence_url: https://www.sec.gov/Archives/edgar/data/72971/000007297123000083/0000072971-23-000083-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.