On Wall Street third quarter earnings season The start is off to a great start and, as per tradition, the main financial stocks begin. In the last few hours, the results of Goldman Sachs, JPMorgan, Citigroup and Wells Fargo, which recorded better-than-expected results. In addition to the large banks, BlackRock, that is, the largest asset manager in the world, which broke its own record last quarter: for the first time, assets under management exceeded 13.000 trillion dollars.
Goldman Sachs Quarterly
Goldman Sachs ended the third quarter with earnings and revenues up and above estimates Market performance, with a broad-based improvement across all segments, particularly investment banking and bond trading. In the three months to September, net income rose to $4,098 billion, or $12,25 per share, 37% higher than the same period last year and 10% higher than the previous three months. Revenue increased 20% compared to the third quarter of 2024 to $15,184 billion (a 4% quarter-over-quarter increase). Analysts had averaged net income of $11,09 per share and revenue of $14,12 billion. Looking at balance sheet indicators, return on equity was 14,2% for the quarter and 14,6% for the first nine months of the year, while book value per share rose 1,2% to $353,79 (a 5,1% increase over the nine months). Provisions for potential credit losses amounted to 339 million in the quarter, compared to 397 million in the same period last year and 384 million in the second quarter.
“This quarter's results reflect the strength of our customer base and the focus on implementing our strategic priorities in an improved market environment,” said CEO David Solomon "Across our business, clients continue to turn to us for their most complex and important matters. We recognize that conditions can change rapidly, so we continue to focus on robust risk management. Over the long term, we are prioritizing the need to operate more efficiently to offer our clients impeccable service, supported by new artificial intelligence technologies."
JP Morgan's results
JP Morgan closed the third quarter of the year with a net profit of 14,4 billion, up 12% compared to the same period in 2024. The'earning per share rose to $5,07, compared to the $4,86 expected by the market consensus. Also on the revenues, up 9% to $47,1 billion. Return on tangible core capital was 20%. Net interest margin was $24,1 billion, up 2%.
“All divisions performed well,” he commented. Chief Executive Officer Jamie Dimon. "Although there have been some signs of weakening, particularly in job growth, the US economy has generally remained resilient," he added. "However, a high degree of uncertainty remains due to complex geopolitical conditions, tariffs and trade uncertainties, elevated asset prices, and the risk of permanent inflation." "As always, we hope for the best, but these complex forces justify preparing society for a broad range of scenarios," he concluded.
Citigroup and Wells Fargo
Growing results also forr Citigroup, with all its divisions that have recorded record revenues. Net income In the quarter, revenue rose 16% to $3,8 billion, compared to a year earlier, while earnings per share jumped 23% to $1,86. revenues increased by 9% At $22,09 billion, versus expectations of $21,11 billion. The profit increase occurred despite a $726 million loss resulting from the sale of a 25% stake in its Mexican subsidiary Banamex. Revenue from Citi's banking unit rose 31,3% to $2,1 billion, the largest increase among its five divisions.
La conclusion of agreements at global level increased in the first nine months of 2025, driven by a sharp increase in large transactions that pushed investment banking to historic highs.
Wells FargoFor its part, it reported net income of $5,59 billion, or $1,66 per share, for the three months from June to September. This compares with earnings of $5,11 billion, or $1,42 per share, in the same period the previous year. Net interest income increased 2% to $11,95 billion in the quarter under review compared to the previous year. Revenue in the third quarter totaled $31,91 billion, while revenue after interest expense was $21,44 billion.
Stocks on the Stock Exchange
A few minutes before the start of trading, with the main US stock markets falling due to trade tensions between the US and China (Dow Jones -0,9%; S&P -1,09%), Goldman Sachs loses 3,8%, JPMorgan lose 1%, Citigroup is down 0,88%. Bucking the trend, Wells Fargo is gaining 3,97%.
