JPMorgan Chase and Company CEO Jamie Dimon speak at the Bloomberg Global Business Forum on Wednesday, September 25, 2019 in New York, USA.
Tiffany Hagler-Geard | Bloomberg | Getty Images
JPMorgan Chase will report third-quarter earnings before Wednesday’s opening bell
Here’s what Wall Street expects:
- Revenue: $3 per share, Refinitiv . up 2.6% year-on-year as per
- Revenue: $29.8 billion, down 0.6% year-over-year
- Net interest revenue: $12.98 billion on a reported basis, according to Street Account.
- Business income: $3.73 billion in fixed income, $2.16 billion in equity
- Investment banking fee: $2.75 billion
JPMorgan Chase, the first major bank to report third-quarter earnings, will be closely monitoring the industry for signs of inflection points in weak credit growth.
Consumers and businesses have been flooded with cash this year due to government incentives, credit card balance repayments and the use of fewer commercial loans. So CEO Jamie Dimon began calling loan demand “challenging” in April.
Another area of interest is the company’s Wall Street trading and advisory division. For most of the pandemic and fast-moving transactions, IPO issuances and mergers resulted in high fees for JP Morgan’s investment banks.
It is expected to moderate in the third quarter. Last month, JPMorgan executive Marianne Lake said trading returns during the unusually strong quarter were 10% lower than a year ago.
Dimon may be asked about the bank’s acquisition strategy after a series of recent transactions. Last month, the bank acquired restaurant review service Infatuation and university planning platform Frank. This was after it acquired the fintech start-up thrice in the past one year.
JPMorgan’s stock rose 31% this year after the KBW Bank index gained 38%.
This story is developing. Please check update.
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JPMorgan (JPM) Revenue Q3 2021
Source Link JPMorgan (JPM) Revenue Q3 2021