JP Morgan earnings crush analysts' estimates as bond trading revenue surges by nearly 90%

  • 📰 CNBC
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 72%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Here are the key takeaways so far as banks report their Q4 earnings.

posted profit and revenue that smashed through analysts' expectations on a strong rebound in trading revenue at the end of 2019.

Profit in the investment bank surged 48% to $2.9 billion, mainly on trading and sales. Bond trading revenue surged 86% to $3.4 billion, exceeding the $2.61 billion estimate by roughly $800 million, as fixed-income desks were humming, particularly in securitized products and rates. Stock traders posted a 15% increase in revenue to $1.5 billion, compared with the $1.35 billion estimate.

CFO Jennifer Piepszak said last month that trading revenue was "meaningfully" higher in the fourth quarter versus a year earlier. The rebound comes from the industry's' fixed-income trading operations, projected to rise 25% on average, versus a 3% bump in stock trading revenue, KBW analyst Brian Kleinhanzl wrote last month.

The firm's commercial bank posted a 9% drop in profit to $938 million as lower net interest income compressed margins and the bank boosted its provision for credit losses. Asset and wealth management posted a 30% increase in profit to $785 million as rising asset levels boosted results.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

Banks get 1 trillion dollar bailout, buy up all the distressed homes they created, create the worst housing shortage and homeless problems we’ve ever seen.

The key takeaways are you lot are permabull charlatans and FED fanboys because they keep inflating your stock bubble.....but soon it is going to go BANG

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 12. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Verily CEO Andy Conrad's J.P. Morgan 2020 presentation to investors - Business InsiderVerily just presented for the first time at JPMorgan's big health conference. Here's how the CEO of Alphabet's life sciences firm laid out the unusual business to top investors.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

JP Morgan Chase is set to report fourth-quarter earnings – here's what the Street expectsJ.P. Morgan, the biggest U.S. bank by assets, is the first major lender to report earnings. I'm buying more $GRNF JPMORGAN CHASE REPORTS RECORD FOURTH-QUARTER 2019 NET INCOME OF $8.5 BILLION, OR $2.57 PER SHARE RECORD FULL-YEAR 2019 NET INCOME OF $36.4 BILLION, OR $10.72 PER SHARE Presentation Supplement $JPM
La source: CNBC - 🏆 12. / 72 Lire la suite »