Monday, November 2, 2026
Morgan Stanley reported third-quarter net revenues of $20.3 billion and earnings of $3.03 a share on Wednesday 14 October, up from $18.2 billion and $2.80 a year earlier. Equity revenue rose 41 per cent to $5.8 billion, while fixed income fell 7 per cent. Return on tangible common equity was 22.6 per cent, against 23.5 a year earlier.
Treasury announced more than $1.21 billion in anti-money-laundering and sanctions penalties against Bank of America on Tuesday 13 October, and the bank reported third-quarter results the next morning. The bank says the penalty is a non-deductible charge of about 17 cents a share. The bank earned 91 cents a share, or $1.08 excluding the charge, below the $1.12 analysts had expected.
Citigroup said on Tuesday 13 October that third-quarter net income was $5.2 billion, or $2.85 a share, on revenue of $23.8 billion, up 8 per cent. Return on tangible common equity was 11.5 per cent, down from 13.0 per cent in the second quarter.
JPMorgan Chase reported third-quarter profit of $15.3 billion, or $5.57 a share, on Tuesday 13 October, against an LSEG consensus of $5.85. Reuters said it was the bank's first profit miss since the fourth quarter of 2023. Excluding $658 million of losses on investment securities, the bank earned $5.75, still below the estimate.
Wells Fargo earned $5.95 billion, or $1.87 a share, in the third quarter, above the $1.85 average estimate, but revenue of $21.87 billion was below the $22.15 billion analysts expected, according to the Associated Press. Its CET1 ratio fell to 10.0 per cent from 10.3 per cent in three months, as its accumulated other comprehensive loss rose from $8.3 billion to $16.5 billion.
Morgan Stanley reports third-quarter results at about 7:30 a.m. ET on Wednesday 14 October. The LSEG consensus, as cited by Reuters, is $2.94 a share against $3.46 in a record second quarter and $2.80 a year earlier. In September co-president Dan Simkowitz said "3Q is no 2Q." Goldman Sachs, reporting on Tuesday, showed revenue down 13 per cent from the second quarter in its comparable business.