- JPMorgan Q3 fixed-income, currency and commodities sales and trading revenue fell short of the average analyst estimate of $5.37 billion.
- Q3 was the first decline in more than two years in JPMorgan's fixed-income, currency and commodities sales and trading revenue.
- Equity trading was the standout segment, reaching $4.95 billion in the quarter.
- JPMorgan missed Q3 earnings estimates and reported $2.7B in credit costs including a $539M reserve build.
- Goldman and JPMorgan were expected to report a trading slowdown as Q3 bank earnings season opened.
Quotes
“falling short of the average analyst estimate at $5.37 billion”
“Equity trading was the standout for the bank, notching $4.95 billion in the quarter.”