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.
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.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.