Market Overview

UPDATE: J.P. Morgan Posts Lower Q1 Profit

Related JPM
Why Wells Fargo Stands Out From Every Other Mega-Bank (In 6 Charts)
Shares Of Google Drop Following JP Morgan Price Target Cut
On Deck Shares Surge in NYSE Trading Debut (Fox Business)

J.P. Morgan Chase & Co (NYSE: JPM) reported a 19% drop in its first-quarter profit.

J.P. Morgan's quarterly profit declined to $5.3 billion, or $1.28 per share, versus a year-ago profit of $6.53 billion, or $1.59 per share.

Its revenue slipped 8% to $22.99 billion versus $25.12 billion. J.P. Morgan's investment banking net income dropped 15%. However, analysts were estimating earnings of $1.39 per share on revenue of $24.43 billion.

J.P. Morgan shares fell 2.44% to $56.00 in pre-market trading.

Posted-In: profitEarnings News

 

Related Articles (JPM)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional