On July 14, 2026, the five biggest names in U.S. banking, JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo, dropped their second-quarter results, and the numbers were not subtle. Goldman Sachs posted the best quarterly performance in its history. JPMorgan’s profits jumped 41% year-over-year.
The numbers that turned heads
Goldman Sachs reported diluted earnings per share of $20.98, nearly double what it posted in the same period a year earlier. Net revenues came in at $20.34 billion, a 39% increase year-over-year.
JPMorgan Chase reported a 41% year-over-year profit increase, with strength concentrated in investment banking and trading operations. Combined, the five reporting banks were expected to approach nearly $39 billion in trading revenue for the quarter.
Analysts heading into earnings season had penciled in roughly 23% profit growth for the S&P 500 as a whole. July 14 also happened to be the day June’s Consumer Price Index data landed.
