12:06 PM EDT, 10/14/2025 (MT Newswires) -- Wells Fargo's ( WFC ) third-quarter results came in stronger than Wall Street's expectations as the lender's top executive said that the US economy remained resilient.

Earnings increased to $1.66 per share for the quarter ended Sept. 30 from $1.42 a year earlier, ahead of the FactSet-polled consensus of $1.55. Revenue grew 5% year over year to $21.44 billion, surpassing analysts' estimate of $21.15 billion.

Net interest income rose 2% to $11.95 billion, but trailed the Street's $12.03 billion view. Noninterest income gained 9%.

The bank said it continues to expect 2025 net interest income to be roughly in line with last year's $47.7 billion, above the consensus of $47.54 billion.

"Revenue grew with higher net interest income and strong, broad-based growth in fee-based income across both our consumer and commercial businesses," Chief Executive Charlie Scharf said in the earnings release. "While some economic uncertainty remains, the US economy has been resilient and the financial health of our clients and customers remains strong."

The stock was up 7.4% intraday Tuesday, boosting its year-to-date gains to 21%.

Scharf's remarks echoed Tuesday's comments from JPMorgan ( JPM ) CEO Jamie Dimon, who said the world's biggest economy generally "remained resilient" despite signs of softening, especially in the labor market. JPMorgan ( JPM ) reported stronger-than-expected third-quarter results driven by investment banking gains.

Wells Fargo's ( WFC ) consumer banking and lending revenue improved 6% to $9.65 billion amid lower deposit pricing and higher deposit and loan balances. Wealth and investment management revenue rose 8% to $4.2 billion.

Corporate and investment banking revenue ticked down 1% to $4.88 billion amid a double-digit decline in commercial real estate that was countered by a 32% jump in investment banking.

Commercial banking sales fell 9%.

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