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Earnings Roundup: Which Big Companies Beat or Missed This Week

Earnings Roundup: Which Big Companies Beat or Missed This Week

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Earnings Roundup: Which Big Companies Beat or Missed This Week

October 15, 2026 | ATN Trade & Finance

Q3 2026 earnings season is off to a mixed start, with the big bank reports dominating headlines this week. The backdrop is strong: FactSet data shows the S&P 500 beat rate ran at 84.6% in Q1 and 85.8% in Q2, and Q3 earnings growth is expected to come in at 29.5% — which would mark three consecutive quarters of over 25% growth for the first time since 2008. But expectations are high enough that solid beats are not being rewarded automatically.

Goldman Sachs: The Week's Standout Beat

Goldman Sachs delivered the most emphatic upside surprise of the week, reporting Q3 EPS of $17.01 against a $13.65 consensus estimate — a 25% beat. Revenue came in at $18.68 billion, well above the $17.03 billion expected. The driver was equities: revenue from the equities division surged 72% year-over-year to $6.44 billion, with Equities Financing up 96%. Advisory fees hit a record $1.65 billion, and assets under supervision in Asset & Wealth Management reached a record $4.1 trillion. The stock rose roughly 1–3% on the session.

JPMorgan: Miss on Both Lines

JPMorgan reported EPS of $5.57, below the $5.93 estimate, with net income of $15.3 billion — up 6.2% year-over-year but weighed down by a $658 million loss on securities. Revenue of $50.17 billion fell short of the $51.23 billion expected. Investment banking fees were up 14% year-over-year but fell 8% from Q2, and net interest income grew 6% to $24.7 billion. CEO Jamie Dimon called it a "solid quarter" but reiterated concerns about large fiscal deficits, persistent inflation, and geopolitical risks. The stock was essentially flat.

Morgan Stanley and BlackRock: Both Beat

Morgan Stanley reported EPS of $3.03 vs. $2.92 expected on revenue of $20.34 billion vs. $20.11 billion. Equity trading revenue jumped 41% year-over-year to $5.80 billion and Wealth Management revenue hit a record. BlackRock posted EPS of $15.93 vs. $14.24 estimated on revenue of $7.75 billion vs. $7.55 billion, with shares gaining 3.87% on the day.

Bank of America: Miss on Charges

Bank of America came in below the line: EPS of $1.08 vs. $1.11 estimated, revenue of $29.96 billion vs. $30.58 billion expected. The culprit was a $1.2 billion non-deductible regulatory settlement with the OCC and FinCEN. Underlying fundamentals were healthier — NII rose 8% and average loans rose 6% — but the stock fell 7.3% at the open.

Wells Fargo and Schwab

Wells Fargo reported revenue of $21.87 billion, which disappointed traders despite coming in above some prior expectations; shares fell 3%. Schwab beat on adjusted EPS ($1.69 vs. $1.66 estimated) but missed slightly on revenue ($7.17 billion vs. $7.2 billion) — the stock fell 1–3% despite recording $190.4 billion in core net new assets, a 38% year-over-year gain, and total client assets of $13.33 trillion.

What this means for investors: The pattern this week — strong underlying results not translating into stock gains — reflects a market that has priced in good news. The hot CPI print on October 14 repriced rate expectations sharply, and financials broadly faced headwinds from the bond market repricing even as their own books showed robust growth. The Magnificent 7 reports (Alphabet, Meta, Apple, Amazon, Microsoft, Nvidia, Tesla) are clustered around October 28–29, which coincides with the FOMC meeting — making that week the most significant data event of the quarter.

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