US EditionWall Street Sees Major Jump in Profits, Helped by Soaring Stock Prices and Deal Making
JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo saw profits rise 9% to 37% as consumer spending and deal making boost Wall Street earnings.
- Tuesday, JPMorgan Chase reported a profit of $14.39 billion, while Wells Fargo earned $5.59 billion.
- Dealmaking returned after nearly three years of sputtering, reviving activity on Wall Street as Goldman Sachs saw advisory revenue rise 60% year-over-year, executives said.
- Overall investment banking fees reached almost $2.7 billion, with fee income from underwriting and advisory up, including equity underwriting revenues of $3750 million and debt underwriting at $3750 million.
- Bank executives voiced caution about market conditions, warning asset prices may be overinflated despite commercial and investment banking net revenues reaching nearly $20 billion for the quarter.
- Goldman Sachs led the rebound with more than $15 billion in net revenues, and CEOs revived stalled merger and financing plans, supporting stronger deal flow ahead.
14 Articles
14 Articles
Goldman Sachs, JPMorgan, and Citi surged past expectations as Wall Street bankers get busy again
Workers in downtown ManhattanMomo Takahashi/BIBig banks posted strong earnings results as dealmaking returns to Wall Street.Goldman's advisory revenue jumped 60% to $1.4 billion from a year earlier, the bank said.JPMorgan and Citi also logged double-digit gains in investment banking fees.After nearly three years of sputtering and false starts since the pandemic-era highs, dealmaking is finally looking like it's back in gear on Wall Street.Goldma…
JPMorgan, Bank of America, Goldman Sachs, Morgan Stanley, Citi and Wells Fargo share a diagnosis: the banking business in the United States is at its sweetest moment. Neither the tariffs nor the threats of recession have managed to slow down a breakthrough that is based on Wall Street's good performance, with peak rates and operations of its customers at full speed in sectors such as artificial intelligence (AI).The six largest banks in the Unit…
Wall Street banks toast to $130bn revenue in deal making boom
Wall Street banks raked in bumper profits, comfortably breezing past analyst expectations in the third quarter, driven by the continued strength of trading desks and a sharp revival in deal making. JP Morgan, Goldman Sachs and Citigroup brushed past estimates on Tuesday, with Jamie Dimon’s banking juggernaut collecting $14.4bn (£10.8bn) in profit – a 12 per cent annual rise. The bank’s revenue rose nine per cent to $47.2bn. Meanwhile, Citi’s rev…
JPMorgan and other US banking giants such as Goldman Sachs and Citi were able to report strong quarterly figures on Tuesday as deal fever in the United States increases and more companies are looking to the...
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