JPMorgan Q3 FICC revenue misses estimates despite strong equities trading
JPMorgan Chase (JPM) delivered mixed third-quarter results, with Fixed Income, Currencies, and Commodities revenue coming in below analyst expectations. The bank posted FICC revenue of $5.37 billion, a figure that fell short of the estimated $6 billion. In contrast, the Equities Sales and Trading division outperformed, generating $4.95 billion in revenue against an estimate of $4.47 billion.
JPMorgan Chase (JPM) delivered mixed third-quarter results, with Fixed Income, Currencies, and Commodities revenue coming in below analyst expectations. The bank posted FICC revenue of $5.37 billion, a figure that fell short of the estimated $6 billion. In contrast, the Equities Sales and Trading division outperformed, generating $4.95 billion in revenue against an estimate of $4.47 billion.
The investment banking segment showed a complex picture, with total revenue rising 15% year-over-year to $3.10 billion. This total missed the $3.27 billion estimate, driven by underperformance in specific areas despite growth in advisory services. Advisory revenue grew 32% year-over-year to $1.22 billion, surpassing the $1.14 billion forecast.
Underwriting activities contributed to the segment's shortfall. Equity underwriting revenue increased 7% year-over-year to $564 million, missing the $646.4 million estimate. Similarly, debt underwriting revenue rose 3.8% year-over-year to $1.22 billion, falling just below the $1.24 billion expectation.
Filed by the macro desk of MarketPR on October 13, 2026. Source: MarketPR newsroom. Indicative figures are not investment advice.