US Banks Post Strong Second-Quarter Results on Dealmaking Rebound

The largest US banks kicked off earnings season with a strong showing, underlining the health of capital markets after a busy quarter for mergers, acquisitions and initial public offerings. Citigroup beat Wall Street expectations, posting earnings of about $3.15 per share on revenue of roughly $24.77 billion, ahead of analyst forecasts. Goldman Sachs shares climbed as investors focused on advisory and underwriting income, including fees tied to a landmark technology-sector listing, while executives pointed to substantial room to deepen ties between investment banking, financing and wealth management. At JPMorgan Chase, leadership faced questions over how far artificial intelligence could reshape staffing and efficiency across the industry, after smaller fintech firms signalled steep AI-driven workforce reductions. The results collectively suggested that trading desks and deal pipelines remained active, helping offset caution elsewhere in the economy. Bank earnings are closely watched as a barometer of corporate and consumer health, and the quarter's strength reinforced expectations of continued momentum in dealmaking, even as lenders navigate an uncertain rate path and geopolitical risks.