High interest rates, the First Republic Bank deal, improvement in investment banking (IB) business and solid loan balance drove JPMorgan’s (JPM) first-quarter 2024 adjusted earnings to $4.63 per share. The bottom line handily surpassed the Zacks Consensus Estimate of $4.18.The results excluded a $725 million or 19 cents per share increase in the FDIC special assessment charges. After including it, earnings were $4.44 per share.The company's shares lost almost 3% in pre-market trading despite quarterly numbe ...

An inflation warning from JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon sent JPM stock down despite an earnings beat. For the first quarter, the bank reported net income of $13.4 billion, $4.44 per share, on revenue of $41.9 billion. Analysts had expected earnings of $4.17 per share.JPM stock opened this morning at about $188 per share, and its market capitalization is about $544 billion.Dimon in the RoughNet interest income, the profit made from lending money, rose 11% from a year ago to $23.2 billion. But it ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Key PointsJPMorgan Chase had a solid quarter, but cracks are showing in the consumer, and NII is expected to be weak this year compared to forecasts.Consumer card charge-offs nearly doubled, causing a net build in consumer credit loss reserves.The Tier-1 capital ratio is industry-leading and above requirement, leaving JPM in solid shape to weather the storm. 5 stocks we like better than JPMorgan Chase & Co.JPMorgan Chase & Company’s NYSE: JPM firmwide metrics are good, but details within the consumer busine ...

JPMorgan Chase & Co. (JPM) came out with quarterly earnings of $4.63 per share, beating the Zacks Consensus Estimate of $4.18 per share. This compares to earnings of $4.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.77%. A quarter ago, it was expected that this company would post earnings of $3.73 per share when it actually produced earnings of $3.97, delivering a surprise of 6.43%.Over the last four quarters, the compa ...

Key TakeawaysJPMorgan Chase shares lost ground in pre-market trading Friday despite reporting earnings and revenue that beat analyst expectations as its net interest income missed estimates.JPMorgan's net interest income declined after reaching a record high in the fourth quarter of 2023.CEO Jamie Dimon said in his annual shareholder letter earlier this week that the bank is prepared for a wide range of interest rates and economic outcomes, from a recession to a soft landing or significant growth. JPMorgan ...

1Q24 Financial Results 1Q24 Financial highlights $1.7T CET1 capital ratios2 Std. RWA3 ROTCE1 15.0% 15.3% Std. | Adv. $1.5T 21% Cash and marketable securities4 $520B Total Loss-Absorbing Capacity2 $1.3T Average loans ⚫ 1Q24 net income of $13.4B and EPS of $4.44 – Excluding a $725mm increase to the FDIC special assessment5, 1Q24 net income of $14.0B, EPS of $4.63 and Income statement ROTCE of 22% ⚫ Managed revenue of $42.5B6 ⚫ Expense of $22.8B and managed overhead ratio of 53%6 ⚫ Loans: average loans of $1.3 ...

Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.JPMorgan Chase CEO Jamie Dimon warned Friday that multiple challenges, primarily inflation and war, threaten an otherwise positive economic backdrop."Many economic indicators continue to be favorable," the head of the the largest U.S. bank by assets said in announcing first-quarter earnings results. "However, looking ahead, we remain al ...

JPMorgan Chase & Co. (NYSE: JPM) on April 12th reported a $13.4 billion net income for the first earnings report of FY 2024.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Excluding significant items, net income stood at $13.4 billion, or “$14.0 billion excluding a $725 million increase to the FDIC special assessment”, according to Jamie Dimon, Chairman and CEO. Reported revenue for Q1 was at $41.9 billion, and managed revenue at $42.5 billion. This w ...

Financial Performance - Total net revenue for Q1 2024 was $41,934 million, an increase of 9% compared to Q4 2023 and 9% compared to Q1 2023[3] - Net income for Q1 2024 reached $13,419 million, representing a 44% increase from Q4 2023 and a 6% increase from Q1 2023[3] - Total net revenue for Q1 2024 was $42,548 million, representing a 7% increase compared to $39,943 million in Q4 2023[4] - Net income rose to $13,419 million in Q1 2024, a 44% increase from $9,307 million in Q4 2023[4] - Total net revenue for Q1 2024 was $42.548 billion, a 7% increase from $39.943 billion in Q4 2023[16] - Total net revenue for Q1 2024 was $13,633 million, a 24% increase compared to $10,958 million in Q4 2023[27] - Net income for Q1 2024 reached $4,753 million, an 88% increase from $2,524 million in Q4 2023[27] - Total net revenue for Q1 2024 was $5,109 million, a 7% increase compared to Q1 2023[35] - Net income for Q1 2024 was $1,290 million, reflecting a 6% increase from Q4 2023[35] Revenue Breakdown - Noninterest revenue rose to $18,852 million, a 30% increase compared to $14,523 million in Q4 2023[6] - Corporate & Investment Bank revenue increased by 24% to $13.633 billion from $10.958 billion in Q4 2023[16] - Total noninterest revenue reported at $18,852 million, a 30% increase from $14,523 million in Q4 2023[14] - Noninterest revenue was $3.945 billion, down 1% from Q4 2023 and up 9% from Q1 2023[22] - Noninterest revenue increased to $11,236 million, a 38% increase compared to $8,120 million in Q4 2023[27] - Noninterest revenue reported for Q1 2024 was $18,852 million, representing a 30% increase from Q4 2023[47] Expenses and Costs - Total noninterest expense decreased by 7% to $22.757 billion from $24.486 billion in Q4 2023[16] - Compensation expense increased to $13,118 million, an 11% rise from $11,847 million in Q4 2023[6] - Total noninterest expense was $9.297 billion, a slight decrease of 0.4% from Q4 2023 and an increase of 15% from Q1 2023[22] - Noninterest expense totaled $7,218 million, a 7% increase compared to $6,774 million in Q4 2023[27] - Noninterest expense for Q1 2024 was $1,276 million, a significant decrease from $3,593 million in Q4 2023[40] Credit Quality - Provision for credit losses decreased to $1,884 million, down 32% from Q4 2023 and down 17% from Q1 2023[3] - Provision for credit losses decreased significantly to $32 million from $210 million in Q4 2023, marking an 85% reduction[27] - Provision for credit losses was $(31) million in Q1 2024, a significant decrease from $366 million in Q4 2023, indicating improved credit quality[32] - The allowance for loan losses remained stable at $14,486 million in 1Q24 compared to $14,458 million in Q4 2023, and increased by 9% compared to $13,263 million in Q1 2023[25] - The total allowance for credit losses stood at $24,421 million in Q1 2024, slightly down from $24,522 million in Q4 2023[44] Assets and Liabilities - Total assets increased to $4,090,727 million in Q1 2024, up 6% from $3,875,393 million in Q4 2023[4] - Total assets increased to $1,594,901 million, up 19% from $1,338,168 million in 4Q23 and 11% from $1,436,237 million in 1Q23[28] - Total liabilities increased to $3,640,408 million, a 2% rise from $3,564,166 million in 4Q23 and a 7% increase from $3,411,376 million in 1Q23[9] - Total liabilities increased by 6% to $3,754,090 million from $3,547,515 million[8] - Total assets decreased to $240,555 million, down 2% from Q4 2023[37] Capital and Equity - The common equity Tier 1 (CET1) capital ratio remained stable at 15.0%[3] - CET1 capital increased to $257,569 million, reflecting a 13% increase from $227,144 million year-over-year[17] - Total capital rose to $312,255 million, marking a 9% increase compared to $286,398 million a year ago[17] - Common stockholders' equity rose to $300,277 million, up 2% from $294,062 million in Q4 2023 and up 11% from $271,197 million in Q1 2023[9] - The leverage ratio stood at 7.2%, consistent with the previous quarter's ratio[17] Shareholder Returns - Cash dividends declared per share increased to $1.15, a 10% increase from Q4 2023[3] - The company declared a quarterly common stock dividend of $1.15 per share, with a dividend payout ratio of 26%[19] - Total shares of common stock repurchased amounted to 15.9 million at an average price of $179.50 per share[19] - The firm is authorized to purchase up to $30 billion of common shares under its current repurchase program[19] Strategic Acquisitions - On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank from the FDIC[3] - The company acquired certain assets and assumed certain liabilities of First Republic Bank on May 1, 2023, as part of its strategic expansion[5] - The acquisition of First Republic Bank resulted in a preliminary estimated bargain purchase gain of $2.8 billion, subject to adjustments[50]