Barclays Pretax Profit Misses Estimates on Fixed-Income Weakness
By Michael Hennessey
Barclays reported lower-than-expected pretax profit in the third quarter despite a stronger equities performance as fixed-income earnings sank.
The British bank said Thursday that pretax profit for the quarter was 2.32 billion pounds, compared with 2.08 billion pounds for the comparable period a year earlier, and a company-compiled consensus of 2.42 billion pounds. Net profit rose 13% to 1.65 billion pounds, compared with the consensus of 1.64 billion pounds.
Total income was 7.37 billion pounds, compared with 7.17 billion pounds and a consensus of 7.62 billion pounds.
Fixed income, currencies and commodities income fell 19% to 1.01 billion pounds, mirroring a weaker performance for U.S. banks in the sector. However, equities income jumped 47% to 1.01 billion pounds.
The bank launched a share buyback program worth 500 million pounds, below the company-compiled consensus of 579 million pounds, bringing year-to-date distributions to 2.8 billion pounds.
Barclays said it is on track to achieve all of its 2026 and 2028 targets.
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
October 22, 2026 02:50 ET (06:50 GMT)
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