Story perspectives

Citi Q3 profit jumps 40% to $5.25B

By Drooid · Oct 14, 2026, 2:50 PM UTC · How we work

Summary

Citigroup Boosts Profits

Citigroup posted a 40% profit increase in Q3 with $5.25 billion net income.
JPMorgan missed Q3 EPS expectations, reporting $5.57 EPS, below the $5.90-$5.93 analyst range.
JPMorgan’s Q3 revenue rose 8% to $50.2 billion.
JPMorgan’s equities trading revenue surged 49% in Q3.
Both banks’ shares fell after earnings, with Citi down about 3.1% and JPMorgan down roughly 0.9%.

Summary

JPMorgan Slashes Buybacks

JPMorgan cut its quarterly share buybacks to $664 million, an 87% decline from a year earlier.
CEO Jamie Dimon said JPMorgan holds roughly $30 billion of excess capital and favors organic growth over buybacks.
CFO Jeremy Barnum noted annual AI spending of about $700 million, now embedded organization-wide.
Annual expense forecast rose to $108.6 billion from $107.5 billion, driven by staffing and technology costs.

History

Historical Context

Lehman Brothers filed for Chapter 11 on September 15 2008, the largest U.S. bankruptcy with over $600 billion in assets after a $3.9 billion loss and failed sale attempts. The collapse prompted the Federal Reserve to supply $138 billion in emergency advances. Today, Citigroup’s 40% profit jump and JPMorgan’s 87% cut to share buybacks show banks’ continued focus on capital efficiency.

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Citigroup Boosts Profits

Citigroup posted a 40% profit increase in Q3 with $5.25 billion net income.
JPMorgan missed Q3 EPS expectations, reporting $5.57 EPS, below the $5.90-$5.93 analyst range.
JPMorgan’s Q3 revenue rose 8% to $50.2 billion.
JPMorgan’s equities trading revenue surged 49% in Q3.
Both banks’ shares fell after earnings, with Citi down about 3.1% and JPMorgan down roughly 0.9%.

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