JPMorgan Chase & Co. Beats Q3 Profit Estimates

By John Heerdink LinkedIn

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.

On Tuesday, J.P. Morgan Chase reported its Q3 earnings exceeding Wall Street expectations and citing growth in home loans, auto and credit cards. The stocks soared by 3.1%.

“The consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels. This is being offset by weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade,” stated CEO Jamie Dimon during the earnings release.

Some key highlights from the report:

  • The bank reported a profit of $9.1B an increase by 8%, or $2.68/share, exceeding estimates of $2.45/share as per Refinitiv data.
  • Revenue of 30.1B was achieved, exceeding market estimates at $28.5B.
  • Net interest income of $14.4B in Q3 was reported, beating Morgan Stanley’s Betsy Graseck expectation by almost $300M.
  • $3.56B in fixed-income trading revenue was reported by the bank, beating estimates by more than $300M.
  • Equities trading posted $1.52B in revenue, falling short of expectations at $1.58B.
  • Borrowing more and repaying debts on time by consumers played a major role in helping the U.S economy, as reported.

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: JP Morgan Chase shares rise after bank posts record revenue above Wall Street expectations in CNBC)


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