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cnbc.comOCT 132 min read$JPM

Bank earnings live updates: JPMorgan posts rare earnings miss, Wells Fargo reports mixed results

JPMorgan Chase missed Q3 earnings estimates with $5.57 EPS vs. $5.90 expected, while Wells Fargo reported mixed results, beating EPS but missing revenue. Both banks discussed AI, IPO uncertainty, and market conditions. JPMorgan shares fell 3.5% premarket, Wells Fargo declined 1%. Goldman Sachs and Citigroup are set to report later.

Original reporting
cnbc.com
Published Oct 13, 2026, 8:59 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Oct 13, 2026, 11:22 AM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
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Bank earnings live updates: JPMorgan posts rare earnings miss, Wells Fargo reports mixed results — source image
Source · cnbc.com
Decision brief

The 30-second read

$JPMBearishHigh
01

Why it matters

Both JPM and Wells Fargo posted earnings that fell short of consensus, prompting immediate price declines and raising questions about future profitability amid higher rates.

02

Market read

First‑report earnings for two mega‑cap banks, likely to move financial sector indices.

03

What to watch

Potential upside from AI‑related revenue streams and resilient consumer deposits may offset short‑term earnings weakness.

Relevance 8/10Novelty 8/10Timing: pre‑market today

Background

Quarterly earnings season for major U.S. banks, with focus on interest‑rate environment and AI trends.

Company-level read

Ticker impact

$JPMBearishHigh confidence
Context

JPMorgan posted Q3 EPS $5.57 vs $5.90 estimate, shares down ~3.5% pre‑market.

Expected impact

likely further decline as market prices in weaker earnings and reduced share repurchases

Evidence & confidence

Missed EPS and guidance on share buybacks suggest lower profitability and cash flow, prompting sell‑offs.

$WFCBearishHigh confidence
Context

Wells Fargo missed top‑line net interest income, shares down ~1% pre‑market.

Expected impact

potential modest pullback as investors digest lower NII and higher credit loss provision

Evidence & confidence

Missed NII expectations and higher credit loss provision signal margin pressure, likely weighing on price.

Market effects

Sector

Banking sector may see broader pressure as earnings miss highlights rising rates and credit costs.

Regional

U.S. equities could open lower, especially financials.

Global

International banks may face similar scrutiny on earnings amid higher borrowing costs.

Counterpoint

What could challenge this read

If the miss is viewed as a temporary blip, long positions could be justified on valuation.

Key entities

  • company
    JPMorgan Chase & Co.

    Largest U.S. bank, reported Q3 earnings miss.

  • company
    Wells Fargo & Co.

    Second‑largest U.S. bank, mixed earnings results.

Read at source← All news

StoryJPMorgan Chase reports Q3 2026 earnings miss as revenue and EPS fall short of estimates

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