Several banks reported earnings today with JPMorgan beating analysts’ estimates for trading and investment-banking fees, driven by a pickup in dealmaking and underwriting. Similarly, Citigroup Inc. beat Wall Street revenue estimates across all five of its major business lines. Meanwhile, Goldman Sachs Group Inc. posted record third-quarter revenue, though shares were down after the bank reported higher compensation costs and plans for an additional round of job cuts. Also, Wells Fargo & Co. raised a key profitability metric after the removal of regulatory restraints it had operated under for more than seven years, though the projection comes as the bank reported net interest income that slightly missed analysts’ estimates. Bloomberg’s Sri Natarajan and Alison Williams joined Carol Massar and Matt Miller on ‘Bloomberg Businessweek Daily’ to break it all down. (Source: Bloomberg)
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JPMorgan, Citigroup Kick Off Big Bank Earnings
