Barclays Q3 profit jumps 12% to £2.3 billion

• Barclays reported third-quarter 2026 pre-tax profit of £2.3 billion, up 12% year over year, while total income increased 3% to £7.4 billion.
• Barclays announced a new £500 million share buyback, bringing total 2026 shareholder distributions announced to £2.8 billion, while shares fell 2.5% in early trading.
• Barclays plans approximately 5,000 job reductions in 2026 as it expands technology and AI use to reduce operating costs.

Barclays (NYSE:BCS) reported third-quarter 2026 pre-tax profit of £2.3 billion, up 12%, while total group income increased 3% to £7.4 billion.

Pre-tax profit rose from £2.1 billion, but missed analysts' £2.4 billion forecast, while earnings per share increased to 12.3 pence.

Barclays announced a £500 million share buyback and £201 million in additional restructuring actions, alongside plans to cut approximately 5,000 jobs.

The bank expects full-year operating costs of approximately £18.5 billion, while Barclays shares fell 2.5% in early trading following the announcement.

Investment banking income reached £3.1 billion, below £3.3 billion forecasts, as equities revenue increased 47% while fixed-income trading income declined 19%.

Net interest income outside the investment bank and head office rose 7% to £3.5 billion, while return on tangible equity improved to 11.7%.