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 story : : JPMorgan stock down 3.7% as CEO Dimon warns of headwinds #FinanceUSA #StockMarketNEWS JP Morgan Chase & Co. JPM said Friday it had net income of .0 billion, or .57 a share, in the fourth quarter,

@stockMarketNEWS 15 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

: JPMorgan stock down 3.7% as CEO Dimon warns of headwinds #FinanceUSA #StockMarketNEWS
JP Morgan Chase & Co. JPM said Friday it had net income of .0 billion, or .57 a share, in the fourth quarter, up from .4 billion, or .33 a share, in the year-earlier period. Revenue rose to .547 billion from .257 billion a year ago. The FactSet consensus was for EPS of .08 and revenue of .353 billion. Net interest income rose 48% to .3 billion. Noninterest revenue fell 8% to .3 billion, driven by lower investment banking fees amid a dearth of deals, lower management and performance fees in AWM, lower operating lease income in auto and lower net production revenue in home lending amid higher interest rates. The bank’s loan loss provisions came to .3 billion, reflecting an addition of .4 billion and net charge-offs of 7 million. “The U.S. economy currently remains strong with consumers still spending excess cash and businesses healthy. However, we still do not know the ultimate effect of the headwinds coming from geopolitical tensions including the war in Ukraine, the vulnerable state of energy and food supplies, persistent inflation that is eroding purchasing power and has pushed interest rates higher, and the unprecedented quantitative tightening,? Chief Executive Jamie Dimon said in a statement. The stock fell 3.7% premarket and is down 17% in the last 12 months, while the Dow Jones Industrial Average has fallen 5%.


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