Goldman Sachs posted its second-highest quarterly net revenue ever at $18.68 billion with earnings per share of $17.01, far exceeding analyst expectations. JPMorgan Chase missed forecasts for the first time in nearly three years with revenue of $50.17 billion and EPS of $5.57, weighed down by a 4% decline in fixed-income trading revenue and a 12% increase in expenses. Bank of America also disappointed, with profit falling 17% to $6.93 billion and a $1.2 billion regulatory penalty adding to its woes. Despite these mixed results, bank executives remain optimistic about the resilience of the U.S. consumer, though analysts caution about risks from rising interest rates and persistent inflation.
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