JP Morgan Chase (NYSE:JPM) announced earnings for Q4 this morning and the report is a favorable one for the bank. Revenue is up 9% to $29.2 billion and its earnings per share (EPS) of $2.57 comfortably beat analysts’ expectations. Read on for a full run-down of the stats from the report.
JP Morgan Chase Q4 Earnings Report Highlights
- Revenue up 9% year-over-year (y-o-y) to $29.2bn, beating analysts’ expectations of $27.261bn
- EPS up 30% y-o-y to $2.57, beating analysts’ expectations of $2.32
- Net Income saw an increase of 21% to $8.5bn
- Revenues from the corporate and investment bank of the branch saw big gains on the previous year, with $9.5bn representing an increase of 31%
- Revenue from commercial banking came to $2.2bn, representing a decrease of 3% from the previous year
- $9.5bn was redistributed to shareholders in the quarter, $6.7bn of which came in the form of share repurchases
- Common dividend of $0.90 per share for the quarter, raised from $0.80 per share from the previous quarter
What does this mean for JP Morgan Chase investors?
At the time of writing, JP Morgan stock price is up roughly 2% thanks to steady growth across a number of its sectors. The favorable Q4 earnings report has closed out what has been a fruitful year for the bank, with steady growth present throughout 2019. In his comments, CEO and Chairman Jamie Dimon credited the resolution of trade issues and the strength of the U.S. consumer for the auspicious quarter.
On a grander scale, as investors look to the performance of the big banks as a litmus test for the market as a whole, the results from this morning’s earnings reports may not provide the clarity they would have hoped for. While Citigroup (NYSE:C) also beat expectations, giving the stock a much-welcomed boost, Wells Fargo (NYSE:WFC) had a significant miss on forecasted profits, sending the stock plummeting.
Read more about JP Morgan Chase here
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