Goldman Equities Revenue Jumps 72% as Fixed-Income Revenue Stalls

Goldman Sachs Group Inc. 44 billion of revenue in the third quarter, 72% more than a year earlier. 47 billion, unchanged from a year ago and below Wall Street’s estimate. The same split appeared at JPMorgan Chase & Co.

(NYSE: JPM ) and Wells Fargo & Co. (NYSE: WFC ), which also reported before the open on Tuesday. Investors rewarded the bank most exposed to stock trading. 5% in premarket trading.

JPMorgan was little changed after missing profit estimates. 4% despite beating them. Bank EPS vs. estimate Revenue vs.

01 vs. 68B vs. 75 adjusted vs. 91B vs.

87 vs. 87B vs. m. ET.

09 billion analysts expected. The firm cited derivatives and prime financing, which is lending to hedge funds. Fixed-income desks trade bonds, currencies and commodities. 72 billion estimate.

The firm cited lower revenue in mortgages, credit and interest-rate products. 22 billion. 08 consensus. 1%.

Equities revenue rose 72% at Goldman, 49% at JPMorgan and 21% at Wells Fargo. Equities produced about 34% of Goldman’s revenue, against about 10% at JPMorgan and 2% at Wells Fargo. Fixed-income revenue was flat at Goldman, fell 4% at JPMorgan and fell 7% at Wells Fargo. 57 per share, up 6% from a year earlier.

The result included $658 million of net losses on investment securities, which cut earnings by 18 cents per share. 90 consensus. 47 billion estimate. 37 billion missed the $6 billion estimate.

" Meanwhile, the bank raised its outlook. 2 billion of net interest income in 2026. 2 billion this year. 87 per share, up 13% from a year earlier and 2 cents above consensus.

31 billion estimate. 59 billion expected. Chief Executive Charlie Scharf said growth was "partially offset by lower revenue from our venture capital investments" and by lower lease income after the sale of its rail car leasing business. 86 billion estimate.

Banks Still Trail the Market in 2026 The sector has lagged this year. 5% for the State Street SPDR S&P 500 ETF (NYSE: SPY ). Treasury yields eased on Tuesday. 78%.

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