JPMorgan Q3 Net Income Jumps As Taxes Slide; But Sales & Trading, I-Banking Miss [zero hedge]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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US:NYSE Investor Relations:
jpmorganchase.com/corporate/investor-relations/investor-relations.htm
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Source: zero hedge
JPMorgan officially launched Q3 earnings season with earnings that were generally inline including a solid beat on earnings, despite an unexpected miss in FICC sales and trading and Investment banking, coupled with weakness in home lending as a result of sliding mortgage refi activity.JPM reported total managed revenue of $27.8BN (the sum of $14.1BN in net interest income and $13.8BN in non-interest revenue), above the $27.44BN estimate, resulting in $8.4BN in net income, a 24% increase Y/Y, translating in $2.34EPS, higher than the consensus estimate of $2.25. The number included net charge offs of $1 billion, offset by a $0.1BN reserve release, resulting in total credit costs of $0.9BN.Commenting on the results, Jamie Dimon was his usual optimistic self: "the U.S. and the global economy continue to show strength, despite increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy."Something else: as Bloomberg's Max Ab
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JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 4/19/24 - Form 424B2
- 4/19/24 - Form 424B2
- 4/19/24 - Form 424B2
- JPM's page on the SEC website