Sean Daily

Updated: October 13, 2026 (U.S. time). Based on the third-quarter 2026 earnings releases JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo filed with the SEC on October 13, plus same-day reporting from Fortune, Forbes, TheStreet and MarketBeat. Check the official filings below for the full tables.

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Bank earnings Q3 2026: the results at a glance

Bank earnings for Q3 2026 kicked off on Tuesday, October 13, and the headline is simple: every one of the four giants made more money than a year ago. JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo all reported higher net income for the quarter that ended September 30.

The stock market shrugged. The S&P 500 closed almost flat, down 0.02%, and the Dow slipped 0.35%, according to TheStreet. In early trading, Fortune reported, Goldman shares rose 1.9% and JPMorgan 0.8%, while Citigroup fell 0.7% and Wells Fargo 1.5%.

Here is how the four compare, using each bank’s own release.

Bank	Net income	EPS (a year ago)	Revenue	Credit-loss provision
JPMorgan Chase	$15.3B	$5.57 ($5.07)	$50.2B, +8%	$2.7B
Goldman Sachs	$5.29B	$17.01 ($12.25)	$18.68B, +23%	$368M
Citigroup	$5.2B	$2.85 ($1.86)	$23.8B, +8%	$2.6B
Wells Fargo	$5.95B	$1.87 (—)	$21.87B	$1.03B

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JPMorgan: bigger profit, still a miss

JPMorgan’s $15.3 billion profit was up 6% from a year earlier, and net interest income, the money it earns on loans minus what it pays on deposits, rose 13% to $27.0 billion. Yet the $5.57 a share came in below the roughly $5.90 analysts expected, per TheStreet. Fortune puts the consensus at $5.93 and calls it the bank’s first miss in nearly three years.

Two things dragged. The bank booked a $658 million pre-tax loss on investment securities; without it, EPS would have been $5.75. And fixed-income trading slowed compared with earlier in the summer, Fortune reports.

Jamie Dimon sounded upbeat on spending but listed “sticky inflation, elevated asset prices, rising interest rates” among the forces that “continue to shift under the surface,” as Fortune quotes him. On the earnings call, MarketBeat reports, he said JPMorgan is “tightening up a little bit on credit” because lending terms elsewhere in the market have gotten looser. The bank guided to about $28 billion of net interest income in the fourth quarter.

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Goldman’s stock traders carried the quarter

Goldman Sachs had the cleanest beat. Its $17.01 a share compared with an estimate of $13.02, according to TheStreet. Net revenue rose 23% to $18.68 billion.

The engine was equities trading, which brought in $6.44 billion, up 72% from a year earlier. Bond trading (FICC) was essentially flat at $3.47 billion, the same soft spot that hurt JPMorgan. Investment banking fees rose 21% to $3.22 billion, and the asset and wealth management arm grew 14%. CEO David Solomon said in the release that the firm remains “very well positioned to continue to deliver for our clients.”

There is a catch for anyone reading this as a sign of a calm market. Trading desks earn the most when clients are busy repositioning, and Fortune notes that 10-year and 30-year Treasury yields hit multi-year highs this summer amid worries about government spending and inflation.

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Citi and Wells Fargo: profits up, reserves up too

Citigroup’s profit rose to $5.2 billion from $3.8 billion a year earlier, on $23.8 billion of revenue. CEO Jane Fraser called it “the best third-quarter revenue in a decade.” Return on tangible common equity climbed to 11.5% from 8.0%, and Citi returned $4.1 billion to shareholders through buybacks and dividends.

The weaker line was credit cards. Profit in that business fell 8%, which Forbes attributes to higher rewards costs and more loan-loss provisioning. Citi’s total provision for credit losses was $2.6 billion.

Wells Fargo earned $5.95 billion, or $1.87 a share, and bought back $2.5 billion of stock. “Our third quarter results reflect broad-based growth, higher earnings, and stronger returns,” CEO Charlie Scharf said. Fortune notes profits have climbed steadily since regulators lifted the asset cap imposed after the bank’s sales-practices scandal. Still, its provision for credit losses rose to $1.03 billion from $681 million a year earlier, Forbes reports, and net interest income of $12.52 billion came in slightly below expectations.

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Why rising rates help banks, for now

The backdrop matters. The Federal Reserve raised interest rates in September, citing higher diesel, technology and food prices, Fortune reports. Higher rates let banks charge more on loans, which helped net interest income grow 13% at JPMorgan and 14% at Citi, alongside loan growth.

The same rates can turn against them. JPMorgan CFO Jeremy Barnum said “the consumer is currently very healthy,” mainly thanks to a strong job market, per MarketBeat. But he added that a long stretch of aggressive tightening would almost inevitably weaken consumer credit. That is the tension behind the bigger reserves at Citi and Wells Fargo: the banks are earning more today while setting money aside in case borrowers struggle later.

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What this means for you

You don’t need to own bank stock for these reports to matter. Banks are telling you how they see borrowers like you, and the answer is mixed. A few trade-offs worth weighing:

• Your savings rate vs. your bank’s margin. Net interest income is rising partly because banks earn more on loans than they pay on deposits. If your savings account pays little, moving cash to a higher-yield account or Treasury bills could earn more, at the cost of some convenience or access.
• Borrowing now vs. later. Dimon says JPMorgan is tightening credit a little. If you are planning a loan, applying while your finances are strong may help; waiting could bring lower rates if inflation cools, or stricter terms if it doesn’t.
• Credit card balances. Citi’s card profits fell 8%, and banks are reserving more for losses. Carrying a balance in a rising-rate year is expensive; paying it down competes with saving, so decide which matters more for your budget.

The next piece of the puzzle is U.S. consumer price data for September, scheduled for October 14 at 8:30 a.m. ET. Whether it confirms the “sticky inflation” Dimon described will shape how these same banks talk about rates in their next reports, so you may want to check that release before acting on anything here.

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Frequently asked questions

Q: Did JPMorgan beat or miss in Q3 2026?

It missed. Earnings were $5.57 a share against estimates of about $5.90 to $5.93, even though net income rose 6% to $15.3 billion. Excluding a $658 million securities loss, EPS was $5.75.

Q: Which big bank did best this quarter?

Against expectations, Goldman Sachs: $17.01 a share versus an estimate of $13.02, driven by a 72% jump in equities trading revenue.

Q: Are banks worried about consumers?

Not yet, but they are preparing. JPMorgan’s CFO called the consumer “very healthy,” while Citi and Wells Fargo both raised provisions for credit losses and JPMorgan built $539 million in reserves.

Q: When did the banks report?

All four released third-quarter 2026 results on Tuesday, October 13, 2026.

This article is general information, not financial advice. Figures come from company releases and news reports and may be revised; check the official filings above and consult a qualified professional before making borrowing, saving or investment decisions.