JPMorgan reported quarterly profit below analyst estimates, while Goldman Sachs and Wells Fargo beat estimates, as major US banks kicked off third-quarter earnings season.

What it means

JPMorgan Chase reported third-quarter 2026 earnings that missed analyst expectations on both profit and revenue, a rare miss for the bank, while Goldman Sachs and Wells Fargo beat estimates. The miss was driven by weaker bond trading and dealmaking amid market volatility, even though JPMorgan's profit rose year-over-year to $15.3 billion ($5.57 per share) versus $5.90 expected. This kicked off the Q3 earnings season for major US banks, with mixed results across the sector.

Accuracy & sourcesGrounded

The claim is solid, based on multiple reputable secondary sources (Reuters, CNBC, AP, Bloomberg) reporting directly on the banks' official earnings releases. Specific figures like JPMorgan's EPS of $5.57 versus $5.90 expected and Goldman's EPS of $17.01 versus $13.02 expected are consistent across sources, though the exact revenue miss details vary slightly by outlet.

How new

Genuinely new: these are Q3 2026 earnings reported on October 13, 2026, the start of the current earnings season.

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