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JPMorgan Chase $JPM, America's largest bank kicked off the banking sector's Q118 earnings season on Friday before the market opens with better than expected results, along with the other money center major bank Wells Fargo $WFC, Citigroup $C and PNC Financial $PNC

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Earnings per share $2.37 slightky less than $2.28 expected but higher revenue of $28.52 billion beating expected $27.745 billion,

JPMorgan Chase & Co NYSE: JPM ·

Reaction: April 13, 10:18 AM EDT 112.30 ▼ 1.08 (0.95%)

After opening at $115.02


  • Trading revenue rose 15%, or 7% excluding a one-off gain, fueled by equity trading.
  • Investment banking down 7%, below some estimates.
  • Credit card sales volumes grew 12% 
  • Merchant processing volume up 15%.

JPMorgan Chase CEO Jamie Dimon said: "2018 is off to a good start with our businesses performing well across the board, driving strong top-line growth and building on the momentum from last year.

Bank stocks jumped earlier in the year after the largest U.S. banks passed Fed stress tests and were allowed to raise dividends and share buybacks. The Fed as it raise rates is helping banks' finances giving their earnings a boost. However auto and student loans overhang the banking and finance sectors.

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


Source: JPM

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