JPMorgan reported net revenue of $50.17 billion against $51.22 billion expected, and earnings per share of $5.57 against $5.90, Fortune reported on October 15, with fixed-income trading revenue down 4% and noninterest expenses up 12%. Bank of America's profit fell 17% to $6.93 billion, ending a six-quarter streak of beats, in a quarter that included a $1.2 billion regulatory penalty.
Goldman Sachs reported net revenue of $18.68 billion, its second-highest ever, and earnings per share of $17.01 against $13.02 expected, driven by a 72% rise in equities revenue. Fortune's article does not discuss AI spending, which Milos Maricic had urged listeners to watch for on the calls. CNBC reported analysts on all four of the first calls touched on AI's opportunities and risks, and all six major bank stocks fell after reporting.
Source: Fortune