Barclays Profit Jumps 36%, Shares Slide on Target Miss

Barclays reported a 36 percent jump in second-quarter net profit on Tuesday, but its shares fell more than five percent after an upgraded 2026 income target missed expectations.

The British bank said net profit rose to £2.3 billion, or $3.1 billion, in the three months to the end of June from a year earlier. Total income rose 16 percent to £8.3 billion.

Barclays also announced a new £1-billion share buyback. Chief executive C. S. Venkatakrishnan said the bank remained committed to its financial and distribution targets for 2026 and 2028.

The bank's investment banking revenues rose 20 percent to nearly £4 billion, driven by global markets and investment banking fees. Barclays' US consumer bank revenue rose 38 percent year on year.

Market volatility helped traders as swings in oil prices linked to the Middle East war and shifts in US trade policy drove up financial transaction volumes.

Barclays raised its 2026 group income target by £500 million to about £31.5 billion, but the upgrade fell short of analysts' expectations, Richard Hunter, head of markets at Interactive Investor, said. He described the increase as "perhaps typically conservative" and bringing "a tinge of disappointment," while adding that the release showed strong growth across the group.