JPMorgan Chase Posts Earnings, Revenue Misses

JPMorgan Chase Posts Earnings, Revenue Misses
By The original uploader was Frank.trampe at English Wikipedia [Public domain], <a href="">via Wikimedia Commons</a>

JPMorgan Chase & Co. (NYSE:JPM) released the earnings results from its first quarter this morning, posting net income of $1.28 a share on revenue of $23.9 billion. Analysts had been expecting earnings of $1.41 per share on revenue of $24.55 billion.

Breaking down JPMorgan Chase’s results

The bank reported a 9%  increase in consumer and business banking deposits and a 10% increase in credit card sales. JPMorgan Chase & Co. (NYSE:JPM) also reported a 16% increase in client investment asses, a new record. Business banking loan originations grew 22% during the quarter.

JPMorgan Chase & Co. (NYSE:JPM)’s corporate and investment bank maintained its number one ranking in global investment banking fees with an 8.2% wallet share. The bank saw its assets under custody rise 10%. Its period-end loan balances rose 7%, which was driven by 15% growth in commercial real estate. The bank reported that gross investment banking revenue from commercial clients rose 31%.

Exclusive: Third Point Expands Private Equity Business With New $300 Million Fund

Nestle Dan Loeb Daniel Loeb third point capital hedge fund manager activist investor poison pen activism Yahoo corporate governance famous investorsDan Loeb's Third Point recently completed the first close for TPVC, its new dedicated private growth-stage fund. The $300 million fund is part of Third Point's private investing strategy. At the end of February, Third Point managed $16.5 billion overall for clients around the world. New talent According to an investor update dated March 5th Read More

The bank also posted the 20th quarter in a row of positive net long-term client flows and a 10% increase in client assets, which hit a new record. JPMorgan Chase & Co. (NYSE:JPM)’s average loan balances also rose 20%, hitting a new record.

JPMorgan Chase & Co. (NYSE:JPM) maintains balance sheet

JPMorgan Chase & Co. (NYSE:JPM) reported a Basel III Tier 1 common ration of $156 billion or 9.5%. The bank also reports strong liquidity with high quality liquid assets of $538 billion. It supplementary leverage ratio was 5.1%, including impacts from the U.S. NPR, which was announced this week.

The bank raised $455 billion in credit and capital during the first quarter.

JPMorgan Chase & Co. (NYSE:JPM) looks ahead

JPMorgan Chase & Co. (NYSE:JPM)’s board said it plans to increase the bank’s second quarter common stock dividend from 38 cents to 40 cents per share. The bank bought back $.4 billion in common shares during the first quarter and has $6.5 billion left on its share repurchase authorization through the first quarter of next year.

No posts to display