JPMorgan Chase Q4 earnings beat on top and bottom line
JP Morgan Chase & Co.
$247.77
05:45 22/11/24
US banking giant JPMorgan Chase beat Wall Street expectations on both the top and bottom line with its fourth-quarter earnings on Friday.
Dow Jones I.A.
44,114.28
04:30 15/10/20
JPMorgan posted earnings of $3.57 per share on revenues of $35.57bn, beating Wall Street estimates of $4.07 per share and $34.3bn, respectively.
However, the New York-based bank also said it had put aside $2.3bn for credit losses during the quarter, more than the $1.96bn expected by analysts, and chief executive Jamie Dimon pointed to a number of risks on the horizon.
"We still do not know the ultimate effect of the headwinds coming from geopolitical tensions including the war in Ukraine, the vulnerable state of energy and food supplies, persistent inflation that is eroding purchasing power and has pushed interest rates higher, and the unprecedented quantitative tightening," said Dimon.
As of 1230 GMT, JPMorgan shares were down 2.63% in pre-market trading at $135.82 each.
Reporting by Iain Gilbert at Sharecast.com