Earnings beat estimates but equities revenue misses as well
- EPS $1.87 vs $1.80 estimate
- Equity markets revenue $842 million vs $928 million estimate
- FICC markets revenue $3.45 billion vs $3.18 billion estimate
Quarterly revenue comes in at $18.58 billion, which is just under the $18.87 billion estimate but within range of what is expected. The numbers basically tell the same story as what we saw with Goldman's earnings report earlier.
Overall, the beats here should give confidence to US stocks to still gain today despite the low expectations. But let's see if there will be any hiccups for equity investors in the trading session ahead. So far, they haven't stepped on any earnings-related landmines just yet.
That said, markets seem to be focusing a bit on the disappointments and the revenue misses more than the EPS beats. That could be something that takes a bit of the shine off of stocks at the open later.
