Wells Fargo reported Q2 EPS of $1.25, beating the consensus of $1.15, with revenues of $20.53 billion, up 21% Y/Y. The company's profit surged 57% to $4.9 billion due to higher interest rates. The net interest income climbed 29% to $13.16 billion. Consumer and small business banking saw earnings of $6.6 billion, up 19% from last year. The company set aside $1.71 billion in provisions for credit losses in Q2, compared with $580 million a year ago. WFC shares are up 3.80% at $45.33 during the premarket session.