Earnings Update: JPMorgan Chase (NYSE: JPM)
JPMorgan Chase reported Q1 earnings per share of $1.45, which was above the FactSet estimate for $1.39 .
Revenues for the quarter were reported at $24.1 billion, which was below the estimate of $24.34 billion.
Jamie Dimon, Chairman and CEO, commented on the lines of business: “Consumer & Community Banking saw healthy growth in deposits, investment assets and loans and continued to deepen relationships -– winning four TNS Choice Awards in 2015, including #1 in consumer retail banking nationally for the third consecutive year. In Mortgage, we had higher originations and continued to add high-quality loans to our balance sheet while managing expenses. The Corporate & Investment Bank maintained its #1 ranking in Global IB fees with strong fees across products, and 100 bps of market share gains over the last year. The Markets business saw an increase in activity in both Fixed Income and Equity Markets. Commercial Banking generated healthy loan growth in both C&I 6 and CRE 7 and also delivered an impressive increase in gross investment banking revenue with Commercial Banking clients. Asset Management had $16 billion of net long-term inflows, generated strong investment performance and continued to grow loan and deposit balances.”
Shares of JPM last traded at $62.69, which is up from the last closing price of $62.07.
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