JPMorgan Chase earnings for the first quarter of 2019 have JPM stock on the rise Friday.
JPMorgan Chase (NYSE:JPM) reported earnings per share of $2.65 for the first quarter of the year. This is an increase over the company’s earnings per share of $2.37 from the same time last year. It was also a major boon to JPM stock by beating out Wall Street’s earnings per share estimate of $2.35 for the period.
The JPMorgan Chase earnings report for the first quarter of 2019 also includes net income of $9.18 billion. This is better than the company’s net income of $8.71 billion reported in the first quarter of 2018.
JPMorgan Chase earnings for the first quarter of the yer also have revenue coming in at $29.12 billion. This is up from the company’s revenue of $27.91 billion reported in the same period of the year prior. It is also great news for JPM stock by coming in well above analysts’ revenue estimate of $28.44 billion for the quarter.
“In the first quarter of 2019, we had record revenue and net income, strong performance across each of our major businesses and a more constructive environment,” Jamie Dimon, Chairman and CEO of JPMorgan Chase, said in a statement. “Even amid some global geopolitical uncertainty, the U.S. economy continues to grow, employment and wages are going up, inflation is moderate, financial markets are healthy and consumer and business confidence remains strong.”
JPM stock was up 5% as of noon Friday and is up 6% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.