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Bank Q3 earnings beat

Business · Heat 1.3 / 10 · 5 shows · 23m airtime

Goldman Sachs, Wells Fargo and Citigroup reported third-quarter earnings on October 13, 2026, posting a combined $32 billion profit, up 14% from a year earlier. The discussion has widened well beyond that beat: JPMorgan guided full-year net interest income to $106 billion to $107 billion and moved to block AI agents like Muse from customer accounts, while Morgan Stanley reported $232 billion in net new assets, more than double the $111 billion analysts expected. Executives flagged a marked slowdown in dealmaking in the last weeks of September even as European IPO activity runs up about 35% in count and 28% in proceeds year to date. The big six US banks' combined profitability has grown from $86 billion a decade ago…

How 5 podcasts covered it

  1. WSJ What's News, 2026-10-13 (7:36 to 10:12)
    Walks through the quarter's bright spots and warnings
    Walks through the quarter's bright spots - consumer spending, dealmaking, AI and data center buildout - then turns to the bond-market turbulence and CEO warnings that higher-for-longer rates could trigger a corporate pullback and rising unemployment.
    New angle: Goldman, Wells Fargo and Citigroup posted a combined $32 billion third-quarter profit, up 14% year over year.
  2. The Compound and Friends, 2026-10-13 (28:08 to 32:12)
    Walks Goldman's quarter and the succession answer
    Walks through Goldman's blowout quarter line by line - $17 a share against $13.65 expected, record equities and advisory revenue - and adds the succession answer, the $10 trillion AI build-out view, and JPMorgan's raised net interest income guidance.
    New angle: JPMorgan's full-year net interest income expectation is now $106 billion to $107 billion.
  3. The Best One Yet, 2026-10-14 (22:24 to 23:16)
    Adds JPMorgan blocking AI agents from accounts
    Rapid-fire recap of the bank earnings round, adding one development the card does not carry: JPMorgan says it is blocking AI agents like Muse from customer accounts. The rest is a retelling of the profit beat and the fixed-income drag.
    New angle: JPMorgan is blocking AI agents like Muse from accessing customer accounts.
  4. WSJ What's News, 2026-10-15 (3:38 to 5:04)
    Adds bankers' read on a dealmaking slowdown
    Adds the bank executives' own read on the quarter: a marked slowdown in dealmaking in the last weeks of September, a permissive regulatory environment under the Trump administration, and Anthropic and OpenAI IPOs still coming, with Aura's pulled listing read as a negative signal.
    New angle: Bank executives flagged a marked slowdown in dealmaking in the last weeks of September.
  5. Closing Bell, 2026-10-16 (24:35 to 31:06)
    Adds European IPO figures to explain the beat
    Argus Research's Stephen Biggar reviews the mixed quarter and adds a figure not yet on the record: European IPO activity is up about 35% in count and 28% in proceeds year to date, which he uses to explain why JPMorgan and Goldman beat Bank of America in investment banking.
    New angle: European IPO activity is up about 35% in count and 28% in proceeds year to date.
  6. Bloomberg Surveillance, 2026-10-17 (2:54 to 4:33)
    Picks out Morgan Stanley's wealth management surge
    Picks out Morgan Stanley's wealth management as the quarter's standout: $232 billion in net new assets against a $111 billion analyst estimate, a 30% pre-tax margin, and flows traced back to the June SpaceX IPO. A figure the bank-earnings coverage had not put on the record.
    New angle: Morgan Stanley reported $232 billion in net new assets this quarter, more than double the $111 billion analysts expected.
  7. Bloomberg Surveillance, 2026-10-17 (8:05 to 9:23)
    Traces a decade of big six bank profits
    Pulls back from the quarter to a decade-long arc: the big six US banks' combined profitability has gone from $86 billion to nearly $200 billion, and the segment frames banks as a proxy for consumer, corporate and market health. A new figure not on the record, though the segment is brief and drifts into banter.
    New angle: The big six US banks' combined profitability grew from $86 billion a decade ago to nearly $200 billion at the end of 2026.
  8. Closing Bell, 2026-10-20 (25:49 to 30:27)
    Brings Mayo's numbers on the bank stock slide
    Brings on Mike Mayo to explain the six-week slide in bank stocks, framing it as fear versus reality. He puts fresh numbers on the record: banks down 11 percent in six weeks against 15 percent earnings growth, flat net interest margin with rising volumes, and capital markets revenue up 15 percent.
    New angle: Bank stocks are down 11 percent over six weeks while earnings are up 15 percent year over year.
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