Wall Street is having a much bigger year than New York City budget officials were expecting, with first-half profits already blowing past what the city projected for all of 2026.

Profits at New York Stock Exchange member firms leapt 51% from a year ago to $49.5 billion in the first six months of 2026, according to Tuesday’s report from New York City Comptroller Thomas DiNapoli. The figure has already overshot the city’s projections for what Wall Street would make for all of 2026 by $4.2 billion.

If the pace were to continue, New York’s securities industry could exceed $90 billion, far exceeding last year’s record haul of $65 billion. Meanwhile, the city was projecting a 30% drop in profits this year. 

“Wall Street is having an exceptionally strong year,” DiNapoli said in a statement with the report. “Barring a recession or major market disruption, strong profits should continue to provide an important boost to state and city revenue,” the Comptroller added.

The development matters for city and state budgets, with the Comptroller’s office now expecting higher paychecks when 2026 bonuses are cut. The securities industry brought in an estimated $7.8 billion in tax revenue for New York’s fiscal year ending June 30, while accounting for nearly a quarter of the city’s personal income tax collection. 

Over the first half of this year, New York City securities firms spent 19% more than they did over the same 2025 period.

Wall Street is having a much bigger year than New York City budget officials were expecting, with first-half profits already blowing past what the city projected for all of 2026.

Profits at New York Stock Exchange member firms leapt 51% from a year ago to $49.5 billion in the first six months of 2026, according to Tuesday’s report from New York City Comptroller Thomas DiNapoli. The figure has already overshot the city’s projections for what Wall Street would make for all of 2026 by $4.2 billion.

If the pace were to continue, New York’s securities industry could exceed $90 billion, far exceeding last year’s record haul of $65 billion. Meanwhile, the city was projecting a 30% drop in profits this year. 

“Wall Street is having an exceptionally strong year,” DiNapoli said in a statement with the report. “Barring a recession or major market disruption, strong profits should continue to provide an important boost to state and city revenue,” the Comptroller added.

The development matters for city and state budgets, with the Comptroller’s office now expecting higher paychecks when 2026 bonuses are cut. The securities industry brought in an estimated $7.8 billion in tax revenue for New York’s fiscal year ending June 30, while accounting for nearly a quarter of the city’s personal income tax collection. 

Over the first half of this year, New York City securities firms spent 19% more than they did over the same 2025 period.