Earnings Reports

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JPMorgan Chase, America's largest bank reported better than expected Q3 earnings Tuesday before the open. $JPM saw quarter profit rise 8% to $9.1 billion, or $2.68 a share. Equities Revenue was $1.58 billion. Wells Fargo $WFC and Goldman Sachs also report Tuesday.

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 JPMorgan Chase & Co NYSE: JPM · Report Earnings Before Open Tuesday

$2.68 Beat $2.45 EPS Forecast AND $30.1Bil $28.40 Billion Forecast in Revenue

Earnings

JPMorgan Chase & Co (NYSE: JPM) reported third-quarter profits rose 8% to $9.1 billion, or $2.68 a share, exceeding the $2.45 estimate of analysts surveyed by Refinitiv. Revenue also rose 8% to $30.1 billion, beating the $28.5 billion estimate. The bank cited growth in home loans, auto and credit cards..

JPM stock has outperformed other big banks over the past year.  In the JPMorgan conference call watch for macro expectations and risk given the recent weakness in many asset classes with a focus on costs. Higher interest rates boosted the results even with home lending revenue down in the past.

JPMorgan Chase & Co NYSE: JPM

Market Reaction Pre-market 118.50 +2.05 (+1.76%)

Highlights

The consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels,” CEO Jamie Dimon said in the earnings release. “This is being offset by weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade.”

  • Earnings: $2.45 per share, a 4.7% increase from a year earlier, according to Refinitiv.
  • Revenue: $28.5 billion, a 2.4% increase from a year earlier.
  • Net Interest Margin: 2.41%.
  • Trading Revenue: Equities $1.58 billion, Fixed Income $3.19 billion, according to FactSet.
  • Consumer & Community Banking segment strong deposit and client investment asset growth.
  • Consumer lending businesses benefited from company’s continued investments and a favorable environment for borrowers, which helped drive healthy volumes in Home Lending and Auto and strong loan growth in Card.
  • In the Corporate and Investment Banking segment, Markets revenue surged 14% to $5.1 billion.
  • Fixed Income Markets revenue was $3.6 billion, up 25% compared to the prior year which reflected less favorable market conditions.
  • Third quarter 2019 results were driven by strong client activity across products.
  • Equity Markets revenue was $1.5 billion, down 5% compared to a strong prior year, reflecting lower revenues in derivatives.

 JPMorgan Chase JPM Q3 2019 earnings

 

      • JPM CEO Jamie Dimon is also chairman of the Business Roundtable for the Trump administration. 

Source: JPM, AlphaStreet

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