JPMorgan Chase stock shifts into rally mode after it blasts past earnings and revenue estimates

JPMorgan Chase & Co. stock JPM jumped 6% on Friday after the megabank beat analyst estimates for first-quarter profit and revenue. The U.S.’s largest bank said its first-quarter profit rose to $12.62 billion, or $4.10 a share, from $8.28 billion, or $2.63 a share, in the year-ago quarter. Revenue increased to $38.35 billion from $30.72 billion. JPMorgan beat the earnings estimate of $3.41 a share and surpassed the revenue mark of $36.

10 a share, from $8.28 billion, or $2.63 a share, in the year-ago quarter. Revenue increased to $38.35 billion from $30.72 billion. JPMorgan beat the earnings estimate of $3.41 a share and surpassed the revenue mark of $36.13 billion, according to analyst forecasts compiled by FactSet. “The U.S. economy continues to be on generally healthy footings—consumers are still spending and have strong balance sheets, and businesses are in good shape,” CEO Jamie Dimon said.

but i bet they cut bonuses citing weak growth like the scum bags they are

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