🔹 Revenue: $26.5B (Est. $26.6B) 🟡; +4% YoY
🔹 EPS: $0.89 (Est. $0.85) 🟢; +7% YoY
🔹 NII: $14.67B (Est. $14.59B) 🟢; +7% YoY
Guidance:
🔸 Expects to deliver operating leverage in H2 2025
🔸 Reaffirmed Q4 Net Interest Income outlook: $15.5B–$15.7B
Consumer Banking
🔹 Revenue: $10.8B; UP +6% YoY
🔹 Net Income: $3.0B
🔹 Average Loans: $319B; UP +2% YoY
🔹 Credit/Debit Card Spend: $244B; UP +4% YoY
🔹 Consumer Investment Assets: $540B; UP +13% YoY
Global Wealth & Investment Management (GWIM)
🔹 Revenue: $5.94B (Est. $5.96B)🟡; UP +7% YoY
🔹 Net Income: $1.0B
🔹 Asset Management Fees: $3.6B; UP +9% YoY
🔹 Client Balances: $4.4T; UP +10% YoY
🔹 AUM: $2.0T; UP +13% YoY
Global Banking
🔹 Revenue: $5.69B; DOWN -6% YoY
🔹 Net Income: $1.7B
🔹 Investment Banking Fees: $1.43B (Est. $1.27B) 🟢
🔹 Average Deposits: $603B; UP +15% YoY
Global Markets
🔹 Trading Revenue (ex-DVA): $5.38B (Est. $4.94B) 🟢; +15% YoY
🔹 FICC (ex-DVA): $3.25B (Est. $2.96B) 🟢; +19% YoY
🔹 Equities (ex-DVA): $2.13B (Est. $2.06B) 🟢; +10% YoY
🔹 Net Income: $1.5B
🔹 Total Revenue: $6.0B; UP +10% YoY
Other Metrics
🔹 Loans $1.15T, (Est. $1.12T) 🟡
🔹 Total deposits $2.01T, (Est. $1.99T) 🟡
🔹 Net Interest Income (FTE): $14.82B (Est. $14.84B) 🟡
🔹 CET1 Ratio (Standardized): 11.5% (Est. 11.7%) 🔴
🔹 Net Income: $7.1B; UP +3% YoY
🔹 Provision for Credit Losses: $1.59B; UP from $1.48B QoQ
🔹 Net Charge-Offs: $1.53B; Flat QoQ
🔹 Noninterest Expense: $17.2B; UP +5% YoY
🔹 Book Value/Share: $37.13; UP +8% YoY
🔹 Tangible Book Value/Share: $27.71; UP +9% YoY
🔹 ROE: 10.0%; ROTCE: 13.4%
🔹 Returned $7.3B to shareholders; includes $5.3B in buybacks
CEO Commentary
🔸 “We delivered another solid quarter, with earnings per share up 7% from last year.”
🔸 “Consumers remained resilient, with healthy spending and asset quality.”
🔸 “We saw good momentum in our markets businesses.”
🔸 “Returned 40% more capital to shareholders YTD vs. last year.”