JPMorgan’s latest results, released Friday (July 12), showed that consumers continued to use their cards in full force, for both debit and credit payments.And though there are pockets of weakness in spending from lower income cohorts, according to management, spending trends are still strong — and there remain opportunities to grow presence in the card market.The second-quarter results and supplementals from the company indicated that credit card loans were up 13% year on year to $216 billion, up 5% from th ...

Key TakeawaysJPMorgan Chase reported second-quarter results that surpassed analysts' expectations.The banking giant reported revenue on a managed basis of $50.99 billion, above analysts' estimates as investment banking revenue surged on higher fees.The bank's profit rose 25% from the same time last year to $18.15 billion, beating projections, largely thanks to a $7.9 billion gain from an exchange of the company's Visa shares. JPMorgan Chase (JPM) reported second-quarter results that surpassed analysts' expe ...

JPMorgan Chase & Co. (JPM) reported $50.2 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 21.5%. EPS of $4.40 for the same period compares to $4.37 a year ago.The reported revenue represents a surprise of +11.45% over the Zacks Consensus Estimate of $45.04 billion. With the consensus EPS estimate being $4.19, the EPS surprise was +5.01%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to de ...

JPMorgan Chase & Co. Today | --- | --- | |-----------------------|-------| | | | | | | | | | | JPM | | | JPMorgan Chase & Co. | | | $202.63 | | | -4.82 (-2.32%) | | | 52-Week Range $135.19 | | | | | | ▼ | | | $210.38 | | | Dividend Yield 2.27% | | | P/E Ratio 12.24 | | | Price Target $198.61 | | Add to Watchlist JPMorgan Chase & Co. NYSE: JPM shows a Rising Wedge Pattern. Like all technical patterns, it is never 100% correct but often signals a bearish reversal in the underlying market. A rising wedge occur ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

JPMorgan Chase & Co. (JPM) came out with quarterly earnings of $4.40 per share, beating the Zacks Consensus Estimate of $4.19 per share. This compares to earnings of $4.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.01%. A quarter ago, it was expected that this company would post earnings of $4.18 per share when it actually produced earnings of $4.63, delivering a surprise of 10.77%.Over the last four quarters, the compa ...

2Q24 Financial Results July 12, 2024 2Q24 Financial highlights Std. RWA4 $1.7TCET1 capital ratios3 ROTCE1 28% Std. 15.3% | Adv. 15.5%Cash and marketable securities5 $1.5T ROTCE ex. significant items2 20% Total Loss-Absorbing Capacity3 $534BAverage loans $1.3T ⚫ 2Q24 net income of $18.1B and EPS of $6.12 – Excluding significant items2, 2Q24 net income of $13.1B, EPS of $4.40 and ROTCE of 20% Income statement ⚫ Managed revenue of $51.0B6 ⚫ Expense of $23.7B and managed overhead ratio of 47%6 ⚫ Loans: average ...

Financial Performance - Total net revenue for Q2 2024 was $50,200 million, a 20% increase from Q1 2024 and a 22% increase from Q2 2023[4] - Net income for Q2 2024 reached $18,149 million, reflecting a 35% increase compared to Q1 2024 and a 25% increase compared to Q2 2023[4] - Earnings per share (EPS) for Q2 2024 was $6.13, up 38% from $4.45 in Q1 2024 and 29% from $4.33 in Q2 2023[4] - Total net revenue for Q2 2024 was $50,992 million, a 20% increase compared to Q1 2024[5] - Net income for Q2 2024 reached $18,149 million, reflecting a 35% increase compared to Q1 2024 and a 25% increase from Q2 2023[6] - Total net revenue reported for Q2 2024 was $50,200 million, a 20% increase from Q1 2024 and a 22% increase year-over-year[13] - Total net income for the first six months of 2024 was $31.568 billion, a 17% increase compared to the same period in 2023[15] - Total net revenue for Q2 2024 was $17,917 million, a 2% increase from Q1 2024 and a 9% increase from Q2 2023[25] - Total net revenue for Q2 2024 was $10,122 million, a 360% increase from Q1 2024 and a 172% increase from Q2 2023[36] Credit Quality - The provision for credit losses in Q2 2024 was $3,052 million, a 62% increase from Q1 2024[4] - The provision for credit losses increased by 62% from Q1 2024 to $3,052 million, indicating a cautious outlook on credit quality[6] - Provision for credit losses increased to $3.052 billion, a 62% increase from Q1 2024[15] - Provision for credit losses increased to $2.643 billion, a 38% rise from Q1 2024 and a 42% increase from Q2 2023[21] - The total allowance for loan losses increased to $15,070 million in Q2 2024, up 4% from $14,486 million in Q1 2024[23] - The total allowance for credit losses reached $25,236 million in Q2 2024, up 3% from $24,421 million in Q1 2024[39] - The net charge-off rate for consumer loans, excluding credit card loans, was 0.14% in Q2 2024, down from 0.19% in Q1 2024[39] - The total allowance for credit losses reached $9,274 million, a 2% increase from Q1 2024[28] Capital and Equity - The common equity Tier 1 (CET1) capital ratio improved to 15.3% in Q2 2024, up from 15.0% in Q1 2024[4] - CET1 capital increased to $267,195 million, a 4% increase from the previous quarter and a 13% increase year-over-year[16] - Total capital reached $322,191 million, marking a 3% increase from the last quarter and a 9% increase year-over-year[16] - Common stockholders' equity increased to $316,652 million, a 3% increase from the previous quarter and an 11% increase year-over-year[17] - Total stockholders' equity rose by 9% year-over-year to $340,552 million[5] Expenses - The total noninterest expense for Q2 2024 was $23,713 million, a 4% increase from Q1 2024[4] - Total noninterest expense for Q2 2024 was $23.713 billion, a 4% increase from Q1 2024 and a 14% increase from Q2 2023[15] - Compensation expense decreased by 1% from Q1 2024 to $12,953 million, while it increased by 15% compared to Q2 2023[6] - Compensation expense for Q2 2024 was $1,960 million, a slight decrease of 1% from Q1 2024 but an increase of 12% from Q2 2023[31] Assets and Loans - Total assets increased by 7% year-over-year to $4,143,003 million in Q2 2024[5] - Total loans reached $1,320,700 million, reflecting a 2% increase from Q1 2024[5] - Total assets increased to $4,071,443 million in Q2 2024, up 3% from $3,968,637 million in Q1 2024[9] - Total loans remained stable at $1,313,085 million in Q2 2024, with a slight increase of 6% compared to $1,238,237 million in Q2 2023[9] - Total consumer loans increased to $613,055 million, a 2% increase compared to the previous year[37] Market Activity - The market capitalization as of Q2 2024 was $575,463 million, a 36% increase from $422,661 million in Q2 2023[4] - Investment banking fees increased by 18% from Q1 2024 to $2,304 million, and by 52% compared to Q2 2023[6] - Investment banking revenue for Q2 2024 was $2,464 million, an 11% increase from Q1 2024 and a 46% increase from Q2 2023[25] - Total payments transaction volume reached $453.7 billion, an 8% increase from $420.7 billion in Q1 2024 and an 8% increase from $411.0 billion in Q2 2023[24] Shareholder Returns - Cash dividends declared per share remained at $1.15, a 15% increase from $1.00 in Q2 2023[4] - The dividend payout ratio for Q2 2024 was 19%, down from 26% in Q1 2024[18] - The total shares of common stock repurchased in Q2 2024 amounted to 27.0 million, a 62% increase compared to Q1 2024[18] - The firm has authorized a new common share repurchase program of $30 billion effective July 1, 2024, replacing the previous program[18]

The race at JPMorgan to replace CEO Jamie Dimon is on full throttle – even if the mega-bank is doing a great job keeping a lid on the contretemps from leaking to the press. The legendary financier recently shocked the banking world when he said he would step down sooner than his original time frame of five years – maybe two or three years when he’s 70 years of age or so.I say “shocked” because Dimon is still at the top of his game, keeping JPMorgan largely scandal-free and holding the distinction as maybe t ...

The second-quarter 2024 earnings for the Finance sector start tomorrow, with three big banks – JPMorgan (JPM) , Citigroup (C) , and Wells Fargo (WFC) – slated to announce quarterly numbers. Another big bank, Bank of America (BAC) , will come up with results on Jul 16.Heading into the earnings season, investors seem to be tremendously bullish about these big banks’ quarterly performance. All four stocks touched 52-week/all-time highs in recent days. America’s biggest bank – JPMorgan – scaled an all-time high ...