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JPMorgan (JPM) Posts Q3 EPS of $1.58; Notes Record Commercial Banking Net Income

October 14, 2016 6:39 AM

(Updated - October 14, 2016 6:42 AM EDT)

JPMorgan (NYSE: JPM) reported Q3 EPS of $1.58, which may not compare with the analyst estimate of $1.39. Revenue for the quarter came in at $25.5 billion versus the consensus estimate of $23.99 billion.

JPMorgan Jamie Dimon, Chairman and CEO, commented on the financial results: “We delivered strong results this quarter with each of our businesses performing well. We had record net income in Commercial Banking and record loan balances in Asset Management. The Corporate & Investment Bank reported its best third quarter revenue. In the Consumer businesses, we grew both loans and deposits double-digits, and our new card product, Sapphire Reserve, has gotten a great response – underscoring our unwavering commitment to enhancing customer engagement.”

Dimon added: “Over the past months we have continued our extraordinary efforts and submitted what we believe is a credible Resolution Plan, as we remain focused on our regulatory and control agenda.”

Dimon concluded: “We delivered a 13% ROTCE and over $6 billion of net income in a third quarter. We have provided credit and raised capital this year totaling $1.7 trillion for our customers, small businesses, clients and governments around the world. It's a testament to the power of our platform and our people. To remain best-in-class, we continue to invest significant resources in talent development, innovation, technology, security and controls.”

FORTRESS PRINCIPLES

OPERATING LEVERAGE

CAPITAL RETURN

ROE was 13 percent.

Investment banking revenue was $1.74 billion, versus $1.54 billion expected.

FICC sales & trading revenue was $4.33 billion, versus expectations of $3.17 billion.

Equities sales & trading revenue was $1.41 billion, with the consensus at $1.35 billion.

Net investment margin was 2.96 percent, versus 2.93 percent expected. Net interest margin was 2.24 percent, compared with 2.26 billion expected

AUM was $1.77 trillion.

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

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