Big Banks’ Profits Surge After a Red-Hot Quarter on Wall Street
- Investing
Peter Lynch- 0
- 2 minutes read
A Wall Street boom fueled by red-hot stock-market debuts and volatility that kept trading floors bustling is leading to surging profits at the nation’s biggest banks.
JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup and Wells Fargo collectively earned more than $49 billion, a 39% jump from a year ago and above analyst estimates. Their combined revenues rose by more than a fifth.
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