JPMorgan (JPM) Tops Q2 EPS by 24c, Sales Beat

(Updated - July 14, 2017 6:57 AM EDT)

JPMorgan (NYSE: JPM) reported Q2 EPS of $1.82, $0.24 better than the analyst estimate of $1.58. Revenue was $26.4 billion, versus the consensus of $25 billion. FICC revenue was $3.22 billion versus the consensus of $3.25 billion.

Jamie Dimon, Chairman and CEO, commented on the financial results: "We continued to post very solid results against a stable-to-improving global economic backdrop. The U.S. consumer remains healthy, evidenced in our strong underlying performance in Consumer & Community Banking. Loans and deposits continue to grow strongly, and card sales and merchant processing volumes were up double digits, reflecting our consistent investment in the business. In the Corporate & Investment Bank, we maintained our leadership in Banking, while Markets revenue was down amid lower volatility and client activity."

Dimon added: "Commercial Banking delivered record results this quarter with broad strength across products and markets. And in Asset & Wealth Management, the performance also was excellent with record net income and AUM."

Dimon concluded: "We are also pleased to announce increases to our capital return plans while continuing to invest in our businesses for long-term profitability – reflecting the financial strength of our company and the significant capital and liquidity improvements we have made over the past several years."

For earnings history and earnings-related data on JPMorgan (JPM) click here.

You May Also Be Interested In

• Are we witnessing a fundamental or speculative rally in the S&P 500?
• Morgan Stanley backs Yum Brands, cuts Chipotle rating as growth outlook diverges
• Pattern Wealth joins Ameriprise Financial with $160 million in assets