JPMorgan Misses Estimates While Goldman Beats in Q3 Earnings
JPMorgan Chase & Co. missed third-quarter earnings and revenue estimates, while Goldman Sachs Group, Inc. reported results significantly above expectations on Tuesday, October 13, 2026. The mixed performance from major financial institutions contributed to a divided pre-market session where the Dow Jones Industrial Average rose 420 points, the Nasdaq Composite fell 217 points, and the S&P 500 dropped 6 points. The Russell 2000 index gained 5 points during the same period. Investors appeared to pause on artificial intelligence-related stocks, while lower bond yields and oil prices supported blue-chip equities. Crude oil prices fell 1.5%, with West Texas Intermediate trading at $92 per barrel and Brent crude at $104 per barrel. These price levels remained elevated following a weekend bomb strike on Saudi Arabia by Iran-backed Houthi rebels. Bond yields decreased from the previous week's higher levels, reflecting a cooling in the AI trade. The National Federation of Independent Businesses reported that its Small Business Optimism Index fell to 97.9 in September, down from 98.7 in August and 99.8 in July, which marked the high for 2026. For the third consecutive month, labor quality and availability was the top concern for small business owners, followed by inflation. Bill Dunkelberg, Chief Economist at the NFIB, stated that small business owners are proceeding with caution. JPMorgan Chase & Co. reported earnings of $5.75 per share for the quarter, a 6% increase from $5.07 in the year-ago quarter, but below the Zacks consensus estimate of $5.94 per share. Revenues totaled $50.17 billion, representing a 3.9% miss against expectations and an increase from $46.43 billion a year earlier. Goldman Sachs Group, Inc. delivered stronger results with earnings of $17.01 per share, exceeding the anticipated $12.90 by 31.86%. The company generated $18.68 billion in revenues, a 10.75% positive surprise. Goldman Sachs shares rose 3.4% in pre-market trading, expanding its year-to-date gains from 1.7%. Wells Fargo & Company presented mixed results, with earnings of $1.87 per share exceeding estimates by 2 cents and rising from $1.73 per share in the prior year period. However, revenues of $21.87 billion missed the Zacks consensus by 1.26%. Wells Fargo shares declined 2.8% on the news, deepening its year-to-date loss to 10.6%. Johnson & Johnson beat bottom-line estimates with earnings of $2.59 per share against an expected $2.53, on revenues of $25.40 billion that narrowly missed projections. The stock fell 2.3%, retreating from its 27.4% year-to-date advance.
JPMorgan Chase & Co. missed third-quarter earnings and revenue estimates, while Goldman Sachs Group, Inc. reported results significantly above expectations on Tuesday, October 13, 2026. The mixed performance from major financial institutions contributed to a divided pre-market session where the Dow Jones Industrial Average rose 420 points, the Nasdaq Composite fell 217 points, and the S&P 500 dropped 6 points. The Russell 2000 index gained 5 points during the same period. Investors appeared to pause on artificial intelligence-related stocks, while lower bond yields and oil prices supported blue-chip equities. Crude oil prices fell 1.5%, with West Texas Intermediate trading at $92 per barrel and Brent crude at $104 per barrel. These price levels remained elevated following a weekend bomb strike on Saudi Arabia by Iran-backed Houthi rebels. Bond yields decreased from the previous week's higher levels, reflecting a cooling in the AI trade. The National Federation of Independent Businesses reported that its Small Business Optimism Index fell to 97.9 in September, down from 98.7 in August and 99.8 in July, which marked the high for 2026. For the third consecutive month, labor quality and availability was the top concern for small business owners, followed by inflation. Bill Dunkelberg, Chief Economist at the NFIB, stated that small business owners are proceeding with caution. JPMorgan Chase & Co. reported earnings of $5.75 per share for the quarter, a 6% increase from $5.07 in the year-ago quarter, but below the Zacks consensus estimate of $5.94 per share. Revenues totaled $50.17 billion, representing a 3.9% miss against expectations and an increase from $46.43 billion a year earlier. Goldman Sachs Group, Inc. delivered stronger results with earnings of $17.01 per share, exceeding the anticipated $12.90 by 31.86%. The company generated $18.68 billion in revenues, a 10.75% positive surprise. Goldman Sachs shares rose 3.4% in pre-market trading, expanding its year-to-date gains from 1.7%. Wells Fargo & Company presented mixed results, with earnings of $1.87 per share exceeding estimates by 2 cents and rising from $1.73 per share in the prior year period. However, revenues of $21.87 billion missed the Zacks consensus by 1.26%. Wells Fargo shares declined 2.8% on the news, deepening its year-to-date loss to 10.6%. Johnson & Johnson beat bottom-line estimates with earnings of $2.59 per share against an expected $2.53, on revenues of $25.40 billion that narrowly missed projections. The stock fell 2.3%, retreating from its 27.4% year-to-date advance.