Home Business & Finance Surpassing Expectations: JPMorgan Stock Falls: JPMorgan Earns Less | news

Surpassing Expectations: JPMorgan Stock Falls: JPMorgan Earns Less | news


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Nevertheless, the bank clearly exceeded the analysts’ profit expectations. CEO Jamie Dimon was confident. JPMorgan posted net income of $10.4 billion for the three months ended September, down 14 percent from the same period last year. Earnings per share were $3.33. Analysts had expected $3.01 in the factset consensus. Revenue was $29.3 billion, flat with the prior-year quarter. Analysts had forecast a little more at $29.8 billion. “We remain bullish on US economic growth as business sentiment is strong and consumers are benefiting from job growth and higher wages,” said CEO Dimon. As usual, JPMorgan kicked off the US banks’ reporting season. On Friday before the start of trading in the USA, Citigroup and Wells Fargo presented their figures, and next week it will be Morgan Stanley, Bank of America and Goldman Sachs. In Germany, Deutsche Bank will report on the course of the fourth quarter or the year 2021 the week after next. The JPMorgan shares, which have risen towards their record high of almost $173 in the past few days, slipped by more than five percent on the NYSE on Friday, tearing down several important chart technical supports and trading at their lowest level since the end of December. At the end of trading they were 6.16 percent lower at 157.87 US dollars. Analyst Richard Ramsden from Goldman Sachs praised earnings per share in the fourth quarter, which were higher than he had expected. However, the focus should now be on the outlook for 2022 spending, which is well above market expectations. NEW YORK (Dow Jones) / NEW YORK (dpa-AFX)

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