From NASDAQ OMX Group:

The Q4 earnings season of big banks are off to a decent start, despite mixed results. Bank of America’s Q4 earnings fell 17.3% due to a $9 billion FDIC fee, but still beat estimates. JPMorgan, Wells Fargo, and Citigroup also reported lower revenues, but look to stabilize. Credit quality metrics are weakening but considered normal. Finance sector Q4 total earnings are up 6.3% with 100% EPS beats and 50% revenue beats. Earnings are projected to grow by 0.1% in 2022 Q4 and 2023 Q1. Tech sector earnings have increased, but several sectors have faced downward revisions. Out of 29 S&P 500 members, total earnings are up 7.6% with a 93.1% EPS beat and a 55.2% revenue beat. Major regional banks and brokerage firms, including Goldman Sachs and Morgan Stanley, are scheduled to report results this week.



Read more: Breaking Down Early Q4 Earnings Results