SHARPE
Reported results
- Net income $3.5 billion, or $5.61 per diluted common share (GAAP), compared with $3.0 billion, or $4.73 per share in Q2 2026 and $3.2 billion, or $4.83 per share in Q3 2025.
- Adjusted net income (non-GAAP) of $6.69 per diluted common share.
- Total net revenue increased 3 percent to $16.3 billion.
- Pre-provision earnings (non-GAAP) increased 10 percent to $7.5 billion.
- Net interest margin of 8.41 percent, an increase of 40 basis points.
- Common equity Tier 1 capital ratio (Basel III Standardized Approach) of 13.8% as of September 30, 2026.
Notes
Adjusting items in Q3 2026 included acquisition amortization expenses of $483 million pre-tax ($0.60 diluted EPS impact), Discover integration expenses of $338 million ($0.42 EPS impact), and Brex integration expenses of $47 million ($0.06 EPS impact). The release indicates regulatory capital metrics are preliminary and subject to change.
Price and volatility reaction
The stock moved +2.5% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -3.4 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 201.56 | 2026-10-20 |
| Close after release | 206.66 | 2026-10-21 |
| Realised move | +2.5% | close to close |
| 30d ATM IV change | -3.4 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-20 (8-K, Item 2.02). Read the original filing on sec.gov.