Major U.S. Banks Report Third-Quarter Earnings
Four of the largest U.S. banks—JPMorgan Chase, Goldman Sachs, Wells Fargo, and Citigroup—are set to report their third-quarter earnings before market open on Tuesday. These reports come amid a backdrop of artificial intelligence developments, IPO uncertainty, high fuel prices, and rising borrowing costs. Analysts have provided expectations for each bank's performance based on surveys by LSEG and StreetAccount. JPMorgan Chase is expected to lead with the highest revenue at $51.2 billion and earnings per share (EPS) of $5.90. Goldman Sachs is anticipated to report EPS of $13.02, supported by strong investment banking fees and trading activity. Wells Fargo's projected results include an EPS of $1.85 and revenue of $22.3 billion. Citigroup is expected to post an EPS of $2.66 with total revenue around $23.7 billion. Executives from each bank will hold conference calls between 8:30 a.m. and 11 a.m. ET, addressing market conditions and performance details.
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Topics: artificial intelligence bank earnings Citigroup Goldman Sachs IPO uncertainty JPMorgan Chase Morgan Stanley Wells Fargo