J.P. Morgan Chase on Friday reported record first-quarter profit and revenue that exceeded analysts' expectations as the bank benefited from higher interest rates.
J.P. Morgan, the biggest U.S. bank by assets, is the first major lender to report earnings. Its results may allay fears about the sector after the Federal Reserve signaled it was pausing rate hikes for the remainder of the year. Combined with signs of a global economic slowdown, the central bank's actions punished bank stocks because the inverted yield curve crimps the industry's profit margins and signals a possible recession on the horizon.
The company, led by Dimon since 2005, has resumed its pattern of exceeding analysts' profit expectations. In the fourth quarter, the bank under-delivered after beating expectations for 15 straight quarters on tough trading results.
Im sure precentage of it is all money they are keeping from unresolved fraud investigations. Right? 😂 Chase jpmorgan
Shocking.
Go Jamie
good now pay your base employees a living wage
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