JPMorgan and Wells Fargo open bank earnings season mixed

JPMorgan opened third-quarter bank earnings with net income of $15.3 billion, but adjusted earnings per share of $5.75 missed consensus near $5.93 as a $658 million securities loss and softer fixed-income trading weighed, while Wells Fargo profit rose to $5.95 billion on revenue that also came in light.

Why it matters: The two prints are the first hard read on US consumer credit, dealmaking and trading under 5%-plus Treasury yields, and they land a day before the September US CPI report that will set the tone for the Fed's October meeting.

Data as of Third-quarter 2026 results released Tuesday, October 13, 2026, before the US market open. JPMorgan figures are from the company's 8-K as summarized by TradingView; the consensus comparison is MarketBeat's. Wells Fargo figures are Reuters reporting of the company release. Goldman Sachs and Citigroup were also due to report Tuesday.

JPMorgan Chase reported third-quarter net income of $15.3 billion, up 6% from a year earlier, on reported revenue of $50.2 billion, with net interest income up 13% to $27.1 billion and equity markets revenue up 49%, but adjusted earnings per share of $5.75 missed consensus of about $5.93 after a $658 million net investment securities loss in the corporate segment and a fixed-income trading result that fell short of estimates. Wells Fargo’s net income rose to $5.95 billion, or $1.87 per share, slightly ahead of consensus, helped by loan growth and a 5% rise in net interest income to $12.52 billion, though revenue of $21.87 billion missed estimates and the shares were down 1.5% in premarket trading. Goldman Sachs and Citigroup report later on Tuesday, with the KBW bank index already down more than 12% from its August highs as investors weigh whether high Treasury yields help or hurt the largest lenders.

JPMorgan and Wells Fargo open bank earnings season mixed

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