JPMorgan misses Q3 2026 estimates as Goldman Sachs beats forecasts

In short: JPMorgan Chase reported mixed third-quarter 2026 results that fell short of analysts’ estimates, while Goldman Sachs reported a stronger quarter than expected.

What happened

JPMorgan Chase reported its third-quarter 2026 results on Oct. 13. The bank said it earned $5.57 per share, which was below the $5.90 per share that analysts expected. It also reported $50.91 billion in revenue, below the $51.22 billion estimate.

Even so, JPMorgan’s revenue was still up 8% from a year earlier. The problem was that expenses rose faster, up 12% year over year. The bank also brought in less money than expected from fixed-income trading, which includes buying and selling bonds and other debt (think of it as the bank’s version of a trading desk for IOUs).

Goldman Sachs, one of JPMorgan’s biggest rivals, reported results that were well above expectations. Goldman said it earned $17.01 per share and brought in $18.68 billion in revenue. Analysts had expected $13.02 per share and $16.71 billion in revenue.

A key driver for Goldman was strong equities trading, which is buying and selling stocks. In simple terms, Goldman did better than expected in the part of its business tied to stock market activity.

Why it matters

These reports highlight how quickly results can vary from one big bank to another, even in the same economy. For regular people, bank performance can influence stock prices, retirement accounts, and how confident businesses feel about borrowing and investing. The contrast also shows that “beat or miss” is often about expectations, not just whether a bank grew compared to last year.

Source: NYTimes