JPMorgan Chase Reports First-Quarter 2021 Financial Results
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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
