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JPMorgan Earnings: JPM Stock Ticks Higher on Q2 Beat

JPMorgan (NYSE:JPM) earnings for the financial company’s second quarter of 2020 have JPM stock up on Tuesday. This comes after reporting earnings per share of $1.38 on revenue of $33.82 billion. These are both better than Wall Street’s estimates of $1.04 per share on revenue of $30.29 billion.

JPMorgan Earnings: JPM Stock Ticks Higher on Q2 Beat
Source: Roman Tiraspolsky / Shutterstock.com

Here’s what else is worth highlighting from the most recent JPMorgan earnings report.

  • Per-share earnings are down 51% from $2.82 reported during the same time last year.
  • Revenue for the quarter is sitting 15% higher than the $29.48 billion from the second quarter of 2019.
  • The JPMorgan earnings report also has it bringing in a net income of $4.69 billion.
  • That’s a 51% decline compared to its net income of $9.65 billion from the same period of the year prior.

Jamie Dimon, chairman and CEO of JPMorgan, said this in the current earnings report.

“Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy. However, we are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm.”

JPMorgan doesn’t discuss guidance in the Q2 earnings report. Even so, we know Wall Street is expecting earnings per share of $1.77 on revenue of $27.79 billion for the upcoming quarter. Analysts are also looking for EPS and revenue of $5.29 and $113.37 billion for the current year.

JPM stock was up slightly 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/2020/07/jpmorgan-earnings-bump-jpm-stock-up/.

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