por admin » Mar Jul 16, 2019 5:50 am
JP Morgan Chase earnings: $2.82 a share, vs $2.50 EPS expected
PUBLISHED 26 MINS AGO UPDATED 1 MIN AGO
Hugh Son
@hugh_son
CNBC.COM
Analysts expect J.P. Morgan earnings of $2.50 per share, a 9.1% increase from a year earlier, according to Refinitiv.
The bank's revenue could reach $28.9 billion, a 1.8% increase from a year earlier.
The bank's fixed income desks are expected to produce $3.37 billion in revenue, compared to $1.9 billion for equities, according to FactSet.
Jamie Dimon, CEO, JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit, December 6, 2018.
Janhvi Bhojwani | CNBC
Jamie Dimon, CEO, JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit, December 6, 2018.
J.P. Morgan Chase is scheduled to report second-quarter earnings before the opening bell Tuesday.
Here's what Wall Street expects:
Earnings: $2.50 per share, a 9.1% increase from a year earlier, according to Refinitiv.
Revenue: $28.9 billion, a 1.8% increase from a year earlier.
Net Interest Margin: 2.51%, according to FactSet
Trading Revenue: Fixed income $3.36 billion, Equities $1.84 billion
J.P. Morgan, the biggest U.S. bank by assets, is closely watched by investors looking for signs of how the industry's Main Street and Wall Street businesses did in the period.
Bank stocks have rebounded in recent months as strong results from lenders' retail businesses helped drive firms including J.P. Morgan to record profits, offsetting declining revenues from trading and other Wall Street activities.
Analysts will be watching to see if J.P. Morgan can continue the momentum from the first quarter, when higher interest rates helped it beat profit and revenue expectations. They'll be keen to ask executives about the impact of the Federal Reserve's looming interest rate cuts, as that could compress margins on banks' core lending businesses.
In May, J.P. Morgan announced it was acquiring medical payments firm InstaMed for more than $500 million, its biggest takeover since the financial crisis, to push more deeply into the healthcare spending market.
The bank also rolled out a digital robo-adviser in a bid to persuade banking customers to make investments with the firm.
Last month, J.P. Morgan got approval from regulators to boost its dividend to 90 cents a share from 80 cents, and announced a $29.4 billion share repurchasing program.
Earlier this week, Citigroup posted second-quarter profit that exceeded analysts' expectations on a $350 million boost in revenue from the IPO of bond trading platform Tradeweb.
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