Bank earnings live updates: JPMorgan, BofA, Goldman, Citi and Wells Fargo are set to report - CNBC
Major U.S. banks including JPMorgan, Bank of America, and Goldman Sachs reported quarterly earnings that exceeded analyst expectations. CEOs highlighted strong revenue from equities trading and discussed the integration of artificial intelligence into their business operations.
Why it matters
These results provide a critical pulse check on the health of the U.S. consumer and the broader economy, while signaling how major financial institutions are balancing AI-driven efficiency with workforce management.
JPMorgan Chase , Bank of America , Citigroup , Wells Fargo and Goldman Sachs all reported earnings Tuesday that beat expectations.
The banks also reported strong revenue from equities trading.
CEOs weighed in on the state of the consumer and discussed how they're thinking about artificial intelligence.
JPMorgan CEO Jamie Dimon said all of the company's major businesses posted record revenue last quarter. He added that the "U.S. economy has demonstrated notable resiliency this year, with stronger business investment and hiring."
Dimon said artificial intelligence has helped the bank cut up to 40% of jobs in certain roles, though he noted that most of those people were offered positions elsewhere in the company.
Bank of America CEO Brian Moynihan , meanwhile, said it was one of the strongest quarters to date for his company. "Every business segment reported double digit net income growth and strong returns on equity," he said.
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