JPMorgan's (JPM) Q1 Earnings Top on High Rates, Loans & IB
JPMJP MORGAN CHASE(JPM) Zacks Investment Research·2024-04-12 21:55

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 4.63pershare.ThebottomlinehandilysurpassedtheZacksConsensusEstimateof4.63 per share. The bottom line handily surpassed the Zacks Consensus Estimate of 4.18. The results excluded a 725millionor19centspershareincreaseintheFDICspecialassessmentcharges.Afterincludingit,earningswere725 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 num ...