Overview
- Goldman Sachs, which reported Monday, posted a 19% profit rise to about $5.6 billion as record equity trading of roughly $5.33 billion and a 48% jump in investment-banking fees lifted results.
- Goldman’s fixed-income, currencies and commodities revenue fell about 10% to $4.01 billion, and the bank booked a $315 million credit-loss provision while returning capital through $5 billion in buybacks and a declared $4.50 dividend.
- JPMorgan on Tuesday reported net income of about $16.5 billion with earnings of $5.94 per share, as markets revenue hit a record $11.6 billion and fixed-income trading rose 21% to roughly $7.08 billion.
- JPMorgan’s investment-banking fees climbed 28% to about $2.88 billion and credit costs were lower than expected at $2.5 billion, though the bank trimmed its full-year net interest income outlook to around $103 billion.
- Citigroup said profit jumped 42% as total markets revenue rose 19% to $7.2 billion, with equities up 39% and fixed income up 13%, while investment-banking revenue increased 15% and the firm repurchased about $6.3 billion of stock.