The US Dev Banks Announced Their Q3 Results

Famous American Banks Released Their Q3 Financial Statements

Goldman Sachs, Wells Fargo, JPMorgan, and Citigroup announced their financial results for the third quarter of 2023. Each drew attention with results eagerly awaited by investors.

Goldman Sachs Achieved Record Revenue

Goldman Sachs recorded $15.18 billion in revenue for the third quarter, showcasing the highest performance in its history. Investment banking fees rose by 42% to $2.66 billion, exceeding the market expectation of $2.18 billion.

Additionally, FICC sales and trading revenue reached $3.47 billion, surpassing the market estimate of $3.18 billion. The bank's earnings per share was $12.25, while its net profit increased by 37% to $4.1 billion.

Wells Fargo Announced Its Revenues

Wells Fargo reported total revenue of $21.44 billion for the third quarter, which was above the expectation of $21.16 billion. While net interest income was disclosed as $11.95 billion, analysts had estimated it at $12.01 billion.

The bank's earnings per share aligned with expectations at $1.66, and net profit rose by 9% year-on-year to $5.6 billion.

JPMorgan Exceeded Expectations

JPMorgan announced its third-quarter revenue at $47.12 billion, significantly above the market expectation of $45.48 billion. FICC sales and trading revenue also exceeded forecasts at $5.61 billion.

Earnings per share reached $5.07, while net profit increased by 12% to $14.4 billion.

Citigroup's Quarterly Revenue Announced

Citigroup reported its third-quarter revenue at $22.09 billion. FICC sales and trading revenue of $4.02 billion surpassed the market expectation of $3.74 billion. Net interest income increased by 12% to $14.52 billion, and earnings per share was reported at $1.86.

Citigroup's net profit increased by 16% compared to the third quarter of last year, reaching $3.8 billion.