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JPMorgan Reports Positive Q1 Earnings, Crushing Market Estimates

By John F. Heerdink, Jr.

JPMorgan Chase & Co (JPM) released first-quarter earnings, performing better than market estimates as the economy starts to revive from the COVID-19 crisis.

Key Earning Highlights:

  • Adjusted earnings per share of $4.50 were reported versus the $3.05 estimate.
  • Revenue stood at $32.3 billion versus $30.42 billion expected.
  • The bank earned $14.3 billion in net income, from $2.9 billion a year earlier.
  • The bank released $5.2 billion in credit reserves, contrasting with its $6.8 billion addition a year ago.
  • Banking revenue increased 70% to $4.5 billion
  • Investment banking revenue of $2.9 billion was reported, up by an enormous 222% year over year, reflecting higher fees.
  • The bank’s market revenue hit $9.1 billion.
  • Fixed Income revenue climbed 15% to $5.8 billion.
  • Equity markets revenue hit $3.3 billion, up by 47%.

“If all of the government programs are spent wisely and efficiently, focusing on actual outcomes, the benefits will be more widely shared, economic growth will be more sustainable and future problems, like inflation and too much debt, will be reduced,” Dimon added.

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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(Read Original Story: JPMorgan Q1 earnings blow past estimates; Dimon sees 'extremely robust, multi-year growth in Yahoo Finance)


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