JPMorgan Chase Shares Rise 7% On Upbeat Q1 Results

On:

Shares of JPMorgan Chase & Co. (JPM) are rising more than 7% Friday morning after reporting better-than-expected first-quarter results.

Profit in the first quarter increased more than 50% to $12.62 billion or $4.10 per share from $8.28 billion or $2.63 per share in the same quarter a year ago. Analysts on average polled by Thomson-Reuters were expecting earnings of 3.41 per share.

Quarterly revenue grew 25% to $38.35 billion from last year’s $30.72 billion. The consensus estimate was for $36.23 billion.

Net interest income rose 49% year-on-year to $20.8 billion. Provision for for credit losses was $2.28 billion, up 56% from the previous year.

JPM is at $138.50 currently. It has traded in the range of $101.28-$144.34 in the last 52 weeks.

Source: Read Full Article

Lates News:
  1. Singapore Sees Soaring Bitcoin and Ethereum Trade on DBS Digital Exchange
  2. Markets Welcome Debt Deal, Await Jobs Data To Confirm Fed Pause
  3. A10 Networks Sinks On Q3 Revenue Outlook Below Street View
  4. Bloomberg's Analysis: Economic Recession and Bitcoin's Impending Correction
  5. Michael Saylor Champions Bitcoin on CNBC: MicroStrategy's Aggressive Strategy