Reportedly, JPMorgan Chase & Co (JPM) released quarterly earnings, posting a decline in trading revenue, both commercial and consumer loans fell from a year earlier. Net interest income increased 3% in the quarter, bringing JPMorgan’s total 2021 NII haul to $52.3 billion. The bank also reported a reserve release of $1.8 billion in the quarter, of which $1.3 billion fell to the bottom line.
The firm reported a 16% slide in fixed-income trading revenue, worse than the 13.5% decline analysts expected. Expenses increased 11% from a year earlier as compensation costs increased, and the firm expects costs to increase to about $77 billion this year.
Total trading revenue dropped 11%, higher than the 9% drop analysts expected. While the fixed-income business was the biggest loser, equities revenue also declined, falling 2% to $1.95 billion. M&A fees increased 86% in the fourth quarter, to $1.56 billion, higher than analysts’ estimates, helping push the firm’s net income to $10.4 billion, higher than expectations for $9 billion. The firm also reported a 1% drop in both consumer and business loans from a year earlier.
The bank provided earnings guidance for 2022. It expects net interest income excluding the market’s business to be $50 billion for the full year, higher than in 2021.
JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.
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