JPMorgan (JPM) Posts Q2 EPS of $1.55
(Updated - July 14, 2016 6:45 AM EDT)
JPMorgan (NYSE: JPM) reported Q2 EPS of $1.55, $0.11 better than the analyst estimate of $1.44. Revenue was $24.4 billion, versus consensus estimates of $24.07 billion.
Firmwide Metrics
- Reported revenue of $24.4 billion; managed revenue of $25.2 billion
- Average core loans up 16% YoY and 3% QoQ
CCB - 2Q16 ROE 20%
- Average core loans1 up 23%; record growth in average deposits, up $54 billion, or 10%
- Nearly 25 million active mobile customers, up 18%
- Credit card sales volume5 up 8% and Merchant processing volume up 13%
CIB - 2Q16 ROE 15%
- Maintained #1 ranking for Global Investment Banking fees with 7.9% wallet share for 2Q16
- Markets revenue up 23%
CB - 2Q16 ROE 16%
- Average loan balances up 13%
- Gross Investment Banking revenue of $595 million
AM - 2Q16 ROE 22%
- Record average loan balances, up 4%
- 81% of mutual fund AUM ranked in the 1st or 2nd quartiles over 5 years
Jamie Dimon, Chairman and CEO, commented on the financial results: “JPMorgan Chase continued to perform well in all of our major businesses. We saw strong underlying performance with record consumer deposits (up 10%), credit card sales volume (up 8%), merchant processing volume (up 13%) and broad core loan growth (up 16%) - particularly in mortgage and commercial real estate. Outside of energy, both wholesale and consumer credit quality remained very good."
Dimon added: “And throughout the recent uncertainty and turbulence in the markets, we continued to be there for our clients - solid and steadfast to meet their needs, execute their transactions and provide liquidity."
Dimon continued: “We were also pleased to increase capital return in the quarter and to receive a non-objection from the Federal Reserve for our new capital distribution plan that includes a meaningful increase in our equity buyback program."
Dimon concluded: “Overall, our performance reflected the strength of our balance sheet and our ability to invest in the future of our company. We will continue to be a source of strength for our clients, communities, governments and markets around the world."
For earnings history and earnings-related data on JPMorgan (JPM) click here.