JPMorgan misses on profit and revenue as Goldman posts near-record quarter

JPMorgan Chase reported third-quarter results on October 13 that fell below analyst forecasts on both the top and bottom lines, its first such double miss in roughly three years, Fortune reported. Net revenue was $50.17 billion against a $51.22 billion consensus, and earnings per share were $5.57 versus the $5.90 expected, according to S&P Global Market Intelligence data cited by Fortune.

Fixed-income trading revenue dropped 4% from a year earlier to $5.4 billion, and costs rose 12%. Chief executive Jamie Dimon said the bank delivered "another quarter of strong results," while chief financial officer Jeremy Barnum told reporters the dealmaking pipeline remained very strong.

Goldman Sachs, reporting the same day, posted $18.68 billion in net revenue and earnings per share of $17.01, well above estimates, helped by a 72% jump in equities revenue.

Bank of America missed estimates on October 14, with profit down 17% to $6.93 billion, or 91 cents a share, a day after regulators levied a $1.2 billion penalty tied to unreported suspicious transactions. Wells Fargo missed on revenue at $21.87 billion. Morgan Stanley and Citigroup beat expectations.

This story was first reported by Fortune.