Four Wall Street Banks Lift Nine-Month Profit 25%
JPMorgan, Citi, Wells Fargo and Goldman Sachs reported $105 billion in combined net income, with results varying across the group.
Key takeaways
- The four banks reported $105 billion in combined net income for the first nine months, up 25%.
- JPMorgan's nine-month net income rose 20%, while Citigroup's climbed 42%.
- Wells Fargo's quarterly profit beat analyst expectations, but its revenue disappointed.
JPMorgan Chase, Citigroup, Wells Fargo and Goldman Sachs reported combined net income of $105 billion for the first nine months of 2026, up 25% from a year earlier. Their results showed different growth rates and performance against analyst expectations.
JPMorgan earned $52.954 billion over the nine months, a 20% increase. Its third-quarter profit rose 6.3% to $15.305 billion, slightly below analyst expectations amid weaker market activity, lower fixed-income returns and higher costs.
Citigroup reported $16.861 billion in nine-month profit, up 42%. Its third-quarter net income rose 40% to $5.245 billion, and earnings per share of $2.85 topped the $2.66 analysts expected.
Wells Fargo's nine-month profit increased 10% to $17.611 billion. Quarterly profit rose 6.5% to $5.951 billion, beating expectations, though analysts were disappointed by revenue. Goldman Sachs posted $17.552 billion in nine-month profit, up 40%, and earned $5.294 billion in the third quarter.
Executives pointed to artificial intelligence as a potential source of economic gains. JPMorgan CEO Jamie Dimon also cited risks including persistent inflation, higher interest rates and geopolitical conditions, while Wells Fargo CEO Charlie Scharf said AI investment, employment and wage growth were offsetting economic risks.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
