UPDATE 2-JPMorgan profit just below forecast on weak investment banking [Reuters]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Reuters
JPMorgan profit just below forecast on weak investment banking | Reuters Reuters Staff 3 Min Read (Reuters) - JPMorgan Chase & Co’s ( JPM.N ) quarterly profit fell short of Wall Street expectations on Friday as lower revenue from investment banking ate into gains from U.S. corporate tax changes and higher interest rates. Revenue grew across its businesses as borrowing rose amid strong economic growth. Higher interest rates lifted lending revenue more than the bank’s cost of money and its equity markets business had a strong quarter, which it attributed to derivatives trading and prime services. Investment banking, however, was a dark spot, with revenue falling 7 percent on lower debt and equity underwriting fees. Overall profit rose 35 percent, while revenue gained about 10 percent in the first quarter ended March 31. The bank’s shares were up nearly 1 percent in premarket trading on Friday. The stock has gained 33 percent in the past 12 months. “2018 is off to a good start with our
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JPM
News
- US bond repricing marks brief setback for hedge funds' basis trade [Reuters]Reuters
- JPMorgan Analysts Say Cautious Call on European Banks Was Wrong [Yahoo! Finance]Yahoo! Finance
- Why Is JPMorgan Chase Down Following Earnings? Here Are 4 Things Investors Need to Know. [Yahoo! Finance]Yahoo! Finance
- Look out for a return of the US bond rollercoaster [Reuters]Reuters
- China's Growing Plastics Dominance Is Squeezing Out Asian Rivals [Yahoo! Finance]Yahoo! Finance
JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 4/16/24 - Form 424B2
- 4/16/24 - Form 424B2
- 4/16/24 - Form 424B2
- JPM's page on the SEC website