Q3 2026 earnings season kicked off on October 13 with results from JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo. Here is how each bank did against Wall Street estimates, and how the shares reacted.
The scorecard at a glance
Four of America's biggest banks opened Q3 2026 earnings season before the bell on Tuesday, October 13. The results were mixed: Goldman Sachs (GS) delivered a clear beat, Citigroup (C) beat on profit but missed on revenue, while JPMorgan Chase (JPM) and Wells Fargo (WFC) came in slightly below expectations.
- Goldman Sachs: EPS $17.01 vs $15.05 expected (+13.0%); revenue $18.68B vs $17.52B (+6.6%). Shares -0.2%.
- Citigroup: EPS $2.85 vs $2.73 (+4.4%); revenue $23.85B vs $24.20B (-1.5%). Shares -5.6%.
- JPMorgan Chase: EPS $5.75 vs $5.92 (-2.8%); revenue $50.17B vs $51.65B (-2.9%). Shares -0.9%.
- Wells Fargo: EPS $1.87 vs $1.88 (in line); revenue $21.87B vs $22.61B (-3.3%). Shares -3.1%.
Prices are end-of-day closes for October 13 versus October 12 (delayed data).
Goldman Sachs: the standout
Goldman was the only bank to beat on both lines, with EPS 13% above consensus and revenue $1.2B ahead of forecasts. That points to strong trading and investment banking activity. Even so, the stock slipped 0.2% to $891.91, which suggests much of the good news was already priced in after a strong run into the print.
Citigroup: a profit beat the market didn't reward
Citi topped EPS estimates by 4.4% but revenue fell about $360M short. Investors focused on the top line, and the stock fell 5.6% to $124.53, the worst move of the group. It gave back the 1.8% gain from the previous session and more. When a profit beat comes with a revenue miss, it often means cost control rather than business growth, and the market treated it that way.
JPMorgan and Wells Fargo: rare soft quarters
JPMorgan, usually the sector's reliable beater, missed on both EPS (-2.8%) and revenue (-2.9%). The shares only dipped 0.9% to $331.43, a sign that investors still trust the franchise. Wells Fargo matched EPS expectations but missed revenue by 3.3%. Its shares fell 3.1% to $80.74, giving back most of the past week's gains.
What it means for the rest of earnings season
Revenue was the weak spot: three of the four banks missed top-line estimates, which points to softer lending and fee income. Investment banking and markets (Goldman's strength) held up best. Watch for the same split in this week's remaining bank reports from Bank of America, Morgan Stanley and the regional lenders. Track every upcoming report on the Earnings Compass calendar and screener.
This article is for information only and is not financial advice.