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JPMorgan Reports Better Than Expected Q4 Profits

By John F. Heerdink, Jr.

JPMorgan Chase & Co (JPM) reported Q4 earnings recently, ahead of market estimates. The bank reported earnings of $3.79 a share, exceeding estimates at $2.62 per share. Revenue of $30.16 billion was reported, vs. $28.70 billion expected.

The firm reported having released $2.9 billion from its set aside cash for expected loan defaults in the quarter, resulting in a $1.9 billion boost after about $1 billion in charge-offs. Last year, the banks had set aside tens of billions of dollars for loan-loss reserves expecting that Covid-19 induced shutdowns would lead to loan defaults from customers. But, now it appears the industry is releasing some of those reserves, boosting profit and their ability to repurchase stock this year.

“While positive vaccine and stimulus developments contributed to these reserve releases this quarter, our credit reserves of over $30 billion continue to reflect significant near-term economic uncertainty and will allow us to withstand an economic environment far worse than the current base forecasts by most economists,” stated Jamie Dimon, CEO of JP Morgan Chase.

Equities trading revenue of $1.99 billion exceeded the $1.84 billion estimate of analysts. Its fixed-income revenue of $3.95 billion was just under the $4.12 billion estimate.

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.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: JPMorgan beats profit estimates on better-than-expected credit, record trading revenue in CNBC)


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