Goldman Q3 EPS $17.01 as Big Bank Earnings Land
Goldman Sachs reported net revenues of $18.68 billion and net earnings of $5.29 billion for the third quarter ended September 30, 2026 Goldman Sachs release. Diluted earnings per common share were $17.01 for the quarter, compared with $12.25 for the third quarter of 2025 Q3 results. The period ended September 30.
Annualized return on common equity was 18.7% for the 2026 third quarter Investor Relations. Advisory revenue was $1.65 billion in the quarter, up 18% CNBC.
Wells Fargo reported diluted earnings per share of $1.87 for the third quarter of 2026, up 13% from a year ago Wells Fargo earnings. The bank stated that financial results in its 3Q26 Quarterly Supplement are preliminary Quarterly Supplement. It had scheduled its Q3 2026 quarterly earnings for Tuesday, October 13, 2026 at 10 a.m. ET.
JPMorganChase said its Third-Quarter 2026 results were scheduled to be released at approximately 7:00 a.m. ET JPMorganChase notice. Its conference call to review the quarter was scheduled for October 13, 2026 at 8:30 a.m. Eastern. Citigroup was slated to report third-quarter results before the bell on October 13, 2026 Reuters. Third-quarter 2026 earnings for the largest U.S. banks were expected to rise up to 20% from last year Reuters.
The broader context here is clustering. Four money-center reporters landing within a few hours forces a joint read. Headline EPS growth rates cannot be compared cleanly without segment detail. A result supported by advisory and trading revenue has different persistence and capital intensity than one supported by net interest income and lower credit costs. The releases available so far do not provide that split.
Looking at what this means for how to interpret the two prints now available, start with what is missing. ROE and advisory confirm direction but not composition. Expenses, compensation ratio, provisions for credit losses, and capital ratios will determine how much of the revenue increase converted to distributable capital. Wells Fargo's 13% EPS increase is similarly incomplete without revenue, expense, and share-count disclosure. EPS can move on buybacks and effective tax rate as well as operating leverage. The warning that supplement figures are preliminary adds another caution. Treat the EPS as provisional until the supplement is finalized and the scheduled call provides reconciliation.
In my view, the 20% expectation for large-bank earnings frames the hurdle but not the signal. For practitioners, the useful work begins after the headlines. The scheduled JPMorgan call at 8:30 a.m. and Wells Fargo event at 10 a.m. will provide guidance on deal pipelines, deposit pricing, and provisioning methodology. Those disclosures will shape fee and net interest income trajectories for the fourth quarter more than any single EPS variance.
