JPMorgan Chase (JPM) earnings 3Q 2023


JPMorgan Chase tops profit expectations as bank benefits from higher rates, benign credit

JPMorgan Chase on Friday topped analysts’ estimates for third-quarter profit and revenue as the bank generated more interest income than expected, while credit costs were lower than anticipated.

Here’s what the company reported:

  • Earnings: $4.33 a share
  • Revenue: $40.69 billion, vs. $39.63 billion LSEG estimate

The bank said profit surged 35% to $13.15 billion, or $4.33 a share, from a year earlier. That per-share figure includes 17 cents in securities losses and 22 cents in legal expenses. It wasn’t  immediately clear which items were included in LSEG’s $3.96 a share profit estimate.

Revenue climbed 21% to $40.69 billion, helped by the stronger-than-expected net interest income. That measure…

Source cnbc.com

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