JPMorgan reported third-quarter earnings on Friday that beat analysts' expectations. The banking giant increased revenue by 7% and earnings per share by 1%.
JPMorgan Chase (JPM) shares rose Friday morning after reporting revenue and net interest income growth in its third-quarter results Friday as big banks' earnings season gets under way.
The bank beat analyst predictions for how much it would earn in the third quarter and raised forecasts of what it will earn from making loans this year.
JPMorgan Chase's profit dropped in the third quarter as it built up provisions for potential loan defaults, the bank said on Friday.
Falling interest rates are usually good news for banks, especially when the cuts aren't a harbinger of recession. But the ride probably won't be a smooth one: Persistent concerns over inflation could mean the Fed doesn't cut rates as much as expected and Wall Street's projections for improvements in net interest income may need to be dialed back.
JPMorgan Chase & Co. JPM will release earnings results for its third quarter, before the opening bell on Thursday, Oct. 10.
Sell-side consensus for JPM specifically is expecting $4.01 in EPS on $41.6 billion in revenue for expected y-o-y growth of -7% and +2% respectively. Last quarter, Q2 '24, EPS grew +1% y-o-y, on +18% net revenue growth, but the quarter was muddled thanks to the substantial Visa non-operating gain. ROTCE continues to print high teens and low 20% range, best in class for the big banks.
JPMorgan Chase (JPM) will kickstart third quarter results from big banks on Friday, October 11.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon says the US has become "an anti-m&a country, and that's a bad idea." He says consolidation is usually a good idea and midsize banks should be allowed to merge.
Get a deeper insight into the potential performance of JPMorgan Chase & Co. (JPM) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
At a time when the S&P 500 index is at or near its record level, the Finance sector's discounted valuation has to be one of the most attractive investment spots in the market.
JPMorgan Chase & Co. (JPM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.