The large American investment banks confirm double-digit growth results in the first quarter of the year and overall better than market expectations. A week full of ideas with the results of the big US companies that are opening the new accounting season in the best possible way: today it was the turn of Morgan Stanley and Bank of America who follow Citigroup and JP Morgan (yesterday) and Goldman Sachs (Monday).
Morgan Stanley announces record accounts
Morgan Stanley closed the first quarter of 2026 with net revenues up 16% to $20.6 billion and net profit up 29% to $5.6 billion, while EPS stood at $3.43 (+32%). These results far exceeded analysts’ expectations which indicated an EPS of $3 and revenues of $19.72 billion.
Investment banking contributed to driving the growth in revenues, with revenues rising by 36% to 2.12 billion, supported by the M&A market, but revenues from equity trading also did well with a +25% to 5.15 billion, while fixed income grew by 29% to 3.36 billion. Wealth Management recorded record revenues of 8.5 billion (+16%).
Bank of America announces highest earnings in 20 years
Bank of America closed the first quarter of 2026 with a net profit at the highest level of the last twenty years of 8.6 billion dollars, up 17% compared to the same period of 2025. EPS rose by 25% to 1.11 dollars, well exceeding the 1.01 dollars estimated by analysts.
Net revenues increased by 7% to 30.3 billion, supported by net interest margin (+9%), investment banking fees and asset management (+21%). The figure exceeds the consensus of 29.93 billion.
From Goldman to Citigroup: forecasts exceeded
In recent days, the accounts of other US giants have also appeared better than expected. The season kicked off on Monday with numbers from Goldman Sachs, which closed the quarter with an EPS of $17.55 (+24%), exceeding the analysts’ consensus of $16.47. Revenues reached $17.23 billion (+14%), beating the estimate of $16.95 billion.
JP Morgan Chase numbers published yesterday showed a net profit of 16.49 billion dollars, equal to 5.94 dollars per share (+13%), which largely exceeds the consensus of 5.45 dollars. Net turnover stood at 50.5 billion dollars (+10%), exceeding the expected 49.2 billion.
Citigroup was no exception, closing the first quarter with revenues of 24.63 billion dollars (+14%), higher than the 23.55 billion expected by the market. while EPS stood at $3.06 (+56%), higher than the expected $2.65.
