Categories Earnings, Finance

JPMorgan’s (JPM) Q4 results beat expectations

JPMorgan Chase & Co. (NYSE: JPM) beat revenue and earnings estimates for the fourth quarter of 2019, allowing the stock to gain 1.9% in premarket hours on Tuesday. The consensus estimate was for earnings of $2.33 per share on revenue of $27.8 billion.

On a reported basis, revenue rose 8% to $28.3 billion from the same period last year. Managed revenue was $29.2 billion, up 9% year-over-year.

JPMorgan beat revenue and earnings estimates for Q4 2019

Net income rose 21% to $8.5 billion while EPS grew 30% to $2.57 from last year.

Jamie Dimon, Chairman and CEO, said, “While we face a continued high level of complex geopolitical issues, global growth stabilized, albeit at a lower level, and resolution of some trade issues helped support client and market activity towards the end of the year. The U.S. consumer continues to be in a strong position and we see the benefits of this across our consumer businesses.”

Net interest income dropped 2% to $14.3 billion due to lower rates. Non-interest revenue jumped 21% to $14.9 billion, mainly driven by higher revenue in Fixed Income and Equity Markets, Asset & Wealth Management, Home Lending, and Auto. Non-interest expense rose 4% to $16.3 billion, due to higher volume- and revenue-related expense.

Also read: Citigroup Q4 2019 Earnings Report

Book value per share rose 8% to $75.98 while tangible book value per share grew 8% to $60.98. Basel III common equity Tier 1 capital ratio was 12.4%.  

In Consumer & Community Banking, net revenues grew 3% year-over-year to $14 billion. Corporate & Investment Bank revenues increased 31% to $9.5 billion. In Commercial Banking, revenues fell 3% to $2.2 billion due to lower net interest income and lower deposit margin. Asset & Wealth Management revenues were $3.7 billion, up 8%, driven by higher investment valuations and average market levels, as well as by growth in loans and deposits.

JPMorgan’s peers Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) are also reporting their earnings results today.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Charles Schwab Corp. (SCHW) Q3 earnings beat estimates amid 87% revenue growth

Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Friday reported strong revenue and earnings growth for the third quarter. The numbers also beat Wall Street's forecast. Third-quarter revenues

GS Earnings: All you need to know about Goldman Sachs’ Q3 2021 earnings results

The Goldman Sachs Group, Inc. (NYSE: GS) reported third quarter 2021 earnings results today. Revenues increased 26% year-over-year to $13.61 billion. Net earnings applicable to common shareholders increased 63% YoY

PNC Financial Services (PNC) Q3 Earnings: Key financials and quarterly highlights

The PNC Financial Services Group, Inc. (NYSE: PNC) reported third-quarter 2021 earnings results today. Revenues were up 21% year-over-year to $5.1 billion compared to the previous year.  Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top