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JPMorgan Chase Earnings: JPM Stock Jumps 3% on Big Q3 Beat

JPM beat EPS and revenue estimates for the quarter

JPMorgan Chase (NYSE:JPM) earnings for the financial company’s third quarter of 2019 have JPM stock heading higher on Tuesday. This is due to the company’s earnings per share of $2.68 and revenue of $29.30 billion. These both come in well above Wall Street’s per-share earnings and revenue estimates of $2.45 and $28.49 billion for the period.

JPMorgan Chase Earnings: JPM Stock Jumps 3% on Big Q3 Beat
Source: Bjorn Bakstad / Shutterstock.com

Now let’s take a closer look at the most recent JPMorgan Chase earnings report.

  • EPS for the quarter is up 14.53% from $2.34 cents reported in the third quarter of 2018.
  • Revenue is up 4.36% YoY from $27.30 billion.
  • Noninterest revenue comes in at $15.7 billion and is a 14% increase from the third quarter of the previous year.
  • Net income of $9.08 billion reported during the quarter is 8.35% higher than $8.38 billion in the same period of the year prior.
  • JPMorgan Chase earnings also include net interest income of $14.40 billion, which is 2% better than the same time last year.

Jamie Dimon, Chairman and CEO of JPM, has this to say about the current JPMorgan Chase earnings report.

“The consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels. This is being offset by weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade.”

The JPMorgan Chase earnings report doesn’t include an outlook for the fourth quarter of 2019. However, we do know that Wall Street is estimating earnings per share of $2.27 on revenue of $27.53 billion for the period.

JPM stock was up 3.62% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/jpmorgan-chase-earnings-boost-jpm-stock/.

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