Business · Companies · 9 hrs ago
US banks post mixed third-quarter results as JPMorgan misses expectations
Four of the largest US banks reported mixed third-quarter results on Tuesday.
Goldman Sachs, Citigroup and Wells Fargo beat analysts’ earnings estimates, while JPMorgan Chase missed profit expectations.
JPMorgan’s profit rose from a year earlier to $15.3 billion, but its bond-trading revenue fell 4% and its equity-trading revenue jumped 49%.
Goldman’s profit increased, helped by a 72% rise in equities revenue, while Citigroup’s profit rose 40% and Wells Fargo’s earnings per share edged above estimates.
Market volatility and economic uncertainty affected trading and dealmaking, during a quarter marked by conflict in Iran, high oil prices and a global bond-market selloff.
The results show that market swings affected banks’ businesses unevenly, with no further steps reported.
Four major US banks reported mixed third-quarter results, with Goldman Sachs, Citigroup and Wells Fargo beating some analyst expectations while JPMorgan Chase missed profit forecasts.
JPMorgan reported profit of $15.3 billion, but earnings per share fell short of analysts’ expected $5.85.
Goldman Sachs reported profit of $5.29 billion, and its equities revenue rose 72% to $6.44 billion.
Citigroup’s profit rose 40% year on year to $5.25 billion, while Wells Fargo earned $1.87 per share, above the $1.85 estimate.
The banks’ results reflected strong stock-trading activity amid volatile markets, while some bond trading and dealmaking businesses weakened.
- Who
- Goldman Sachs, JPMorgan Chase, Citigroup and Wells Fargo.
- What
- The banks reported mixed third-quarter earnings; JPMorgan missed analysts’ profit expectations.
- When
- Tuesday, October 13, 2026. The quarter ended September 30.
- Where
- United States.
- Why
- Volatile markets supported some trading businesses, while market uncertainty and weaker dealmaking weighed on other activities.
This story does not have two clearly opposing sides.
The banks recorded their third-quarter results.
The four banks reported their results.
- JPMorgan profit
- $15.3 billion
- JPMorgan earnings per share
- $5.57, versus analysts’ expected $5.85
- Goldman Sachs equities revenue
- $6.44 billion, up 72% year on year
- Citigroup profit
- $5.25 billion, up 40% year on year
- Wells Fargo earnings per share
- $1.87, versus analysts’ average estimate of $1.85
5 sources
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