Q3 2025 Bank Earnings

Macroeconomics and Politics
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This topic summarizes the Q3 2025 earnings results of the first four major banks to report.

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JPMorgan, Wells Fargo, Goldman Sachs and Citi Group topped earnings estimates in Q3 2025, said economy remained resilient

  • JPMorgan revenue came in at $47.1 billion, above $45.4 billion estimate while EPS was $5.07 versus estimate of $4.84.

  • Wells Fargo revenue came in at $21.44 billion, in line with $21.13 billion estimate while EPS was $1.66 versus estimate of $1.55.

  • Goldman Sachs revenue came in at $15.18 billion, above $14.1 billion estimate while EPS was $12.25 versus estimate of $11.0.

  • Citi Group revenue came in at $22.09 billion, above $21.05 billion estimate while EPS was $2.24 versus estimate of $1.75.

  • JPMorgan CEO Jamie Dimon said the US economy remained resilient but they are preparing for possible turbulence ahead.

    “While there have been some signs of a softening, particularly in job growth, the U.S. economy generally remained resilient,” Dimon said… “As always, we hope for the best, but these complex forces reinforce why we prepare the firm for a wide range of scenarios.”

  • Wells Fargo CEO Charlie Scharf also said the US economy remains resilient and financial conditions of their clients is strong.

    “While some economic uncertainty remains, the U.S. economy has been resilient and the financial health of our clients and customers remains strong,” Scharf said.

https://www.investing.com/news/earnings/citigroup-earnings-beat-by-049-revenue-topped-estimates-4285833

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Futures fall over 0.6% on concerns about the health of small banks

  • Zions Bancorporation shares fell 12% after it disclosed it would charge off $50 million of two bad commercial loans from its California Bank & Trust division.

  • Western Alliance shed 10% after alleging a borrower had committed fraud.

  • Jefferies also lost 10% due to exposure to auto parts supplier First Brands which collapsed last month.

  • The announcements raise concerns over loose credit controls in the banking sector.

  • S&P 500 shed 0.7% while Nasdaq composite fell 0.6% as the market digests the concerns.

  • Large banks said this week that consumer health is strong but JPMorgan CEO Jamie Dimon said in the earnings call that there are other companies that he would group alongside the collapsed First Brands and Tricolor Holdings.

    “First Brands I’d put in the same category and there are a couple of other ones out there that I’ve seen that I put in similar categories,” Dimon said. “We always look at these things and we’re not omnipotent - we make mistakes too.”

    “We’ve had a credit market bull market now for the better part of since 2010. … These are early signs there might be some excess out there because of it. If we ever have a downturn, you’re going to see quite a few more credit issues,” Dimon added.

  • JPMorgan took a $170 million charge-off last quarter from Tricolor.