JPMorgan Chase Earnings: JPM Stock 2% Higher on Strong Revenue Beat

JPM beat EPS and revenue estimates

JPMorgan Chase (NYSE:JPM) earnings for the financial company’s fourth quarter of 2019 have JPM stock up on Tuesday. That’s thanks to earnings per share of $2.57 beating out Wall Street’s estimate of $2.35 for the period. Another factor helping today is revenue of $28.30 billion, which is above analysts’ estimates of $27.96 billion.

JPMorgan Chase Earnings: JPM Stock 2% Higher on Strong Revenue Beat
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Here’s what else is worth mentioning from the most recent JPMorgan Chase earnings report.

  • Per-share earnings for the quarter are up 29.80% from $1.98 in the fourth quarter of 2019.
  • Revenue comes in 8.43% higher than the $26.10 billion in the same period of the year prior.
  • The JPMorgan Chase earnings report also includes a net income of $8.52 billion.
  • This is a 20.51% increase over the company’s net income of $7.07 billion during the same time last year.

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

“JPMorgan Chase produced strong results in the fourth quarter of 2019, capping off a solid year for the Firm where we achieved many records, including record revenue and net income. While we face a continued high level of complex geopolitical issues, global growth stabilized, albeit at a lower level, and resolution of some trade issues helped support client and market activity towards the end of the year. The U.S. consumer continues to be in a strong position and we see the benefits of this across our consumer businesses.”

The JPMorgan Chase earnings report doesn’t reveal its expectations for 2020. Despite this, we know that Wall Street is looking for adjusted EPS of $10.65 on revenue of $117.07 billion.

JPM stock was up 1.69% 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/2020/01/jpmorgan-chase-earnings-bump-jpm-stock-up/.

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