Among the six biggest US banks, Goldman Sachs beat third-quarter profit estimates by the widest margin, about 32%, while JPMorgan and Bank of America missed.
Big bank earnings split into one blowout and two misses.
Goldman Sachs earned $17.01 a share against a $12.86 consensus, a 32.3% beat. Citigroup topped estimates by 7.1%, Morgan Stanley by 3.4% and Wells Fargo by 1.1%.
Bank of America came in 1.8% below expectations and JPMorgan 3.0% below. JPMorgan also cut buybacks.
The split tracks trading. Goldman's equities desk brought in $6.44 billion, up 72% from a year ago, while bond trading weakened across the Street as rates jumped.
Management tones were mixed. Wells Fargo's Charlie Scharf said consumers are spending more and loan delinquencies are low. Jamie Dimon sounded wary, warning that "[L]arge fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface."
The beats didn't lift the stocks, though. All six fell on their earnings day, from Goldman's 0.2% dip to Citigroup's 5.6% drop.
This chart first ran in today's Opening Bell Daily.
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