JPMorgan Misses Earnings for First Time in Three Years Amid Mixed Bank Results

Key Facts

1JPMorgan missed earnings expectations for the first time in nearly three years amid a sweep of mixed big bank results.

2Bank executives expressed optimism that the current lull in the IPO market will not persist.

JPMorgan Chase & Co. missed earnings expectations for the first time in nearly three years, reporting revenue of $21.87 billion against a consensus estimate of $22.31 billion. Fortune reported that the miss occurred amid a sweep of mixed financial results from major Wall Street institutions, highlighting a challenging environment for the banking sector.

JPM closed at $331.43 on October 13, 2026, as peer institutions showed varied performance; Bank of America (BAC) closed at $53.96, Citigroup (C) at $124.53, and Wells Fargo (WFC) at $80.74 on the same date. Despite the earnings miss, bank executives expressed optimism that the current lull in the IPO market will not persist, signaling a potential recovery in investment banking activity.