JPMorgan reported a robust second quarter, with earnings surpassing analyst expectations. The financial giant announced an EPS of $4.40, which was $0.26 higher than the consensus estimate of $4.14. Despite the earnings beat, the company's stock saw a slight decline of 0.7%, indicating a tempered market reaction.
Chairman and CEO Jamie Dimon commented on the quarter's performance, highlighting the company's net income of $13.1 billion and a return on tangible common equity of 20%, after accounting for the Visa shares gain and other discretionary items. Dimon also pointed out the significant growth in the company's CIB segment, with investment banking fees increasing by 50% and market share improving to 9.5% year-to-date . Moreover, the Card Services net charge-off rate was reported at 3.50%.
Dimon also emphasized the company's vigilance regarding potential economic risks, including geopolitical tensions and inflationary pressures. He noted the firm's strong capital position, with a CET1 ratio of 15.3%, and mentioned the Board's intention to increase the common dividend for the second time this year, reflecting a 19% cumulative increase compared to the fourth quarter of 2023.
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.
La source: CoinDesk - 🏆 291. / 63 Lire la suite »