United Kingdom  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

JPMorgan Reports a Noisy Top & Bottom Line Beat

Video Credit: The Street - Duration: 01:18s - Published < > Embed
JPMorgan Reports a Noisy Top & Bottom Line Beat

JPMorgan Reports a Noisy Top & Bottom Line Beat

JPMorgan is Real Money's Stock of the Day.

The financial giant reported earnings this morning, beating on both the top and bottom line.

Revenue came in at $29.57 billion vs estimates of $28.9 billion.

Net income in the quarter rose by 16% to $9.65 billion, putting earnings per share at $2.82, or $2.59 excluding the tax benefit, either way the results beat the $2.50 average EPS estimate of Wall Street analysts.

RELATED: Wells Fargo Beats Q2 Earnings Forecast; Net Interest Margins, Income Decline RELATED: Johnson & Johnson Tops Q2 Earnings Estimate, Boosts 2019 Sales Forecast CEO Jamie DImon said in a statement that "We continue to see positive momentum with the U.S. consumer -- healthy confidence levels, solid job creation and rising wages -- which are reflected in our Consumer & Community Banking results." Dimon added that strong growth in credit card sales and increased new deposits add confidence in the bank's consumer segments.

However, average total loans were down quarter over quarter.

RELATED: JPMorgan Is Seeing Profit-Taking Tuesday Following Its Q2 Earnings Numbers (Real Money) RELATED: JPMorgan Chase Eases Despite Earnings Beat (Real Money) Shares of JPMorgan's stock are down slightly this morning due in part to tax benefits inflating earnings plus a $500 million reduction in the bank's full-year forecast for net interest income from its previous forecast.

However, the bank also announced increases in dividend payments and $29 billion share buy back For more in-depth coverage of JPMorgan get over to RealMoney.com and for Jim Cramer and his team's take head to ActionAlertsPLUS.com.

JPM is a holding in Jim Cramer's Action Alerts PLUS member club.

Want to be alerted before Jim Cramer buys or sells JPM?

Learn more now.

What the Upcoming Earnings Season Means for Investors

0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

What Jim Cramer's Paying Attention to in JPMorgan Chase's Earnings Report [Video]What Jim Cramer's Paying Attention to in JPMorgan Chase's Earnings Report

Earnings season has officially kicked off. Tuesday morning saw earnings from banks such as Real Money stock of the day JPMorgan Chase and Goldman Sachs . JPMorgan reported that net income in the..

Credit: The Street     Duration: 01:17Published

JPM, WFC, GS Earnings: The Economy Is Strong, But There's a Caveat [Video]JPM, WFC, GS Earnings: The Economy Is Strong, But There's a Caveat

It's a mixed bag. TheStreet breaks it down. Let's go bank by bank. JPMorgan JPMorgan beat revenue and earnings per share expectations, posting revenue of $29.6 billion and EPS of $2.59. Analysts..

Credit: The Street     Duration: 00:54Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.