Why JPMorgan Chase Shares Are Falling Today

JPMorgan Chase & Co JPM shares are trading lower by 3.00% to $108.55 Thursday morning after the company reported worse-than-expected second-quarter EPS and sales results.

JPMorgan Chase reported quarterly earnings of $2.76 per share which missed the analyst consensus estimate of $2.91. The company also reported quarterly sales of $31.63 billion which missed the analyst consensus estimate of $31.95 billion by 1%.

Jamie Dimon, Chairman and CEO, commented on the financial results: “JPMorgan Chase performed well in the second quarter as we earned $8.6 billion in net income on revenue of $30.7 billion and an ROTCE of 17%, with growth across the lines of business, while maintaining credit discipline and a fortress balance sheet.”

Dimon also added: “In Consumer & Community Banking, combined debit and credit card spend was up 15% with travel and dining spend remaining robust. Card loans were up 16% with continued strong new account originations. In the Corporate & Investment Bank, we generated strong Markets revenue, up 15% as we helped clients navigate volatile market conditions."

See Also: This Advertising Company Has A Better 5-Year Return Than Bitcoin, Ethereum, Starbucks, Ford, Microsoft, Apple, Disney And Amazon

JPMorgan Chase is one of the largest financial institutions in the United States.

According to data from Benzinga Pro, JPMorgan Chase has a 52-week high of $172.96 and a 52-week low of $109.30.

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