CLAIM #63186 · Wells Fargo & Company (WFC) · 2025Q2 earnings call · Jul 15, 2025 · due Dec 31, 2025
“And so you can easily sort of model what the third quarter looks like based on where the markets ended, you know, already given most of the fees are already sort of certain. And then as long as the market sort of holds up or grows a little potentially as you go into the fourth quarter, that should be constructive.”
Michael Santomassimo · CFO
In context
“ari: Okay. And then maybe you could just give us your thoughts in terms of total revenue. I know you don't give total revenue guidance, but just maybe when you look at your own internal projections and budgeting, how is the revenue outlook for this year shaping up? What are the puts and takes relevant to your expectations if we think about the year so far? Mike Santomassimo: Yeah. No. It's a, you know, as you sort of break apart, like, the pieces, you know, we talked a bit about where NII is coming out at this point. I think when you look at the fee side, you know, the biggest, you know, go through the biggest line items. You know, and you look at, you know, the investment advisory fees, you know, the market's been very supportive, you know, as you look at, you know, the rest of the year. And so you can easily sort of model what the third quarter looks like based on where the markets ended, you know, already given most of the fees are already sort of certain. And then as long as the market sort of holds up or grows a little potentially as you go into the fourth quarter, that should be constructive. You know, you start breaking down, you know, deposit fees, card fees, you know, all that stuff, you know, plays into some of the seasonal activity that we'll see in the third and fourth quarter. And I'd say largely those things are kind of playing out pretty close to what we modeled, you know, depending on the month or quarter, maybe a little bit better, but they're playing out largely as we expected, you know, across most of those. And then it's really sort of trading line. And that'll be driven by, you know, what kind of activity and volatility we see in the market. But I think, you know, we've had a pretty constructive environment now for a couple quarters. Hope that continues. And then I think lastly, just, you know, we'll see how the year comes out on the equity securities gains that”
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SEC filings for WFC ↗ · Claim quote is verbatim from the 2025Q2 earnings call.