JPMorgan Chase tops second-quarter revenue expectations on strong investment banking

  • 📰 CNBC
  • ⏱ Reading Time:
  • 58 sec. here
  • 18 min. at publisher
  • 📊 Quality Score:
  • News: 83%
  • Publisher: 72%

Morgan Stanley Nouvelles

Goldman Sachs Group Inc,Citigroup Inc,Wells Fargo & Co

JPMorgan Chase on Friday posted second quarter profit and revenue that topped analysts' expectations as investment banking fees surged 52% from a year earlier.

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during an Economic Club of New York event in New York, US, on Tuesday, April 23, 2024.second quarter profit and revenue that topped analysts' expectations as investment banking fees surged 52% from a year earlier.Earnings: $4.26 per share adjusted vs. $4.19 estimate of analysts surveyed by LSEGThe bank said earnings jumped 25% from the year-earlier period to $18.15 billion, or $6.12 per share.

Revenue rose 20% to $50.99 billion, topping the consensus estimate of analysts surveyed by LSEG, helped by better-than-expected investment banking fees and equities trading results.noted in the release that his firm was wary of potential future risks, including higher-than-expected inflation and interest rates, even while stock and bond valuations currently "reflect a rather benign economic outlook.

"The geopolitical situation remains complex and potentially the most dangerous since World War II — though its outcome and effect on the global economy remain unknown," Dimon said. "There has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world.

JPMorgan reaped $2.3 billion in investment banking fees, exceeding the StreetAccount estimate by roughly $300 million. Equities trading revenue jumped 21% to $3 billion, topping the estimate by $230 million, on strong derivatives results. Fixed income trading jumped 5% to $4.8 billion, matching the estimate.

 

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

Friday's analyst calls: Tesla downgraded to sell, JPMorgan likes Netflix into earningsWith the earnings season about to kick into higher gear, analysts are taking hard looks at their models and adjusting ratings. UBS cuts Tesla to sell.
La source: CNBC - 🏆 12. / 72 Lire la suite »