Form 8-K JPMORGAN CHASE & CO For: Apr 14
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JPMorgan (JPM) Reports a Q1 Beat on Revenue and Profit Fueled by Release of $5.2 Billion Reserved for Bad Loans; Shares Slightly Down
April 14, 2021 8:09 AM EDTJP Morgan Chase (NYSE: JPM) reported better-than-expected earnings for its first quarter after the bank said it released $5.2 billion previously reserved for bad loans.
The banking titan reported a profit of $14.3 billion or $4.50 per share to easily top the $3.10 the Street was expecting. This includes $1.28 per share from the released reserves.
With all of the stimulus spending, potential infrastructure spending, continued Quantitative Easing, strong consumer and business balance sheets and euphoria around the potential end of the pandemic, we believe that the economy has the potential to have extremely robust,... More
JPMorgan (JPM) Tops Q1 EPS by $1.40, Revenues Beat
April 14, 2021 6:48 AM EDTJPMorgan (NYSE: JPM) reported Q1 EPS of $4.50, $1.40 better than the analyst estimate of $3.10. Revenue for the quarter came in at $32.3 billion versus the consensus estimate of $30.52 billion.
Reported revenue of $32.3 billion; managed revenue of $33.1 billion2Credit costs net benefit of $4.2 billion included $5.2 billion of net reserve releases and $1.1 billion of net charge-offsAverage loans6 up 1%; average deposits up 36%1.5 trillion of liquidity sources, including HQLA and unencumbered marketable securities7Average deposits up 32%; client investment assets up 44%Average loans6 down 7%; debit and credit card sales volume8 up... More