Wall Street’s big banks deliver mixed earnings. Executives bet the IPO lull won’t last
Fortune 11
JPMorgan reported weaker-than-expected revenue and earnings while Goldman beat estimates, as several other banks delivered mixed results and executives discussed a temporary IPO slowdown tied to market conditions. Wells Fargo reported revenue of $21.87 billion versus a $22.31 billion consensus and missed revenue despite meeting earnings estimates. Bank leaders said IPOs were being delayed rather than cancelled, and deal pipelines are expected to recover even as companies and investors adjust to valuations and interest-rate uncertainty.