JP Morgan earnings for the second quarter of 2019 have JPM stock up on Tuesday.
JP Morgan (NYSE:JPM) starts off its earnings report for the second quarter of the year with earnings per share of $2.82. This is an increase over the company’s earnings per share of $2.29 from the second quarter of 2018. It was also good news for JPM stock by beating out Wall Street’s earnings per share estimate of $2.50 for the period.
The JP Morgan earnings report for the second quarter of 2019 also has net income coming in at $9.65 billion. This is up 16% from the company’s net income of $8.32 billion reported in the same period of the year prior. The company says part of this increase is due to tax benefits of $768 million in connection to resolving tax audits.
JP Morgan earnings for the second quarter of the year have revenue coming in at $29.57 billion. That’s better than the company’s revenue of $28.39 billion reported in the second quarter of the previous year. It was also a boon to JPM stock by coming in above analysts’ revenue estimate of $28.91 billion for the quarter.
JP Morgan notes that the increase to its revenue for the quarter was majorly from its net interest income. This comes in at $14.50 billion, which is up 7% from the same time last year. Noninterest net income for the quarter was $15.00 billion, which is up 2% from the second quarter of 2018.
JPM stock was up slightly as of noon Tuesday and is up 14% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
