JPMorgan Chase beats analysts' estimates on higher rates, better-than-expected bond trading
Publishing timestamp: 2023-07-14 10:15:43
Summary
JPMorgan Chase reported better-than-expected second-quarter results, with revenue rising 34% and net income surging 67%. The bank benefited from higher interest rates and solid loan growth. The retail banking division was a main source of strength, and trading and investment banking activity also performed well. JPMorgan increased its guidance for 2023 net interest income. The bank has outperformed smaller peers and its shares have climbed 11% this year. However, there are concerns about dwindling consumer balances, higher interest rates, and geopolitical tension.
Sentiment: POSITIVE
Tickers: C, GS, MS, JPM, WFC, BAC,
Keywords: jamie dimon, banks, wells fargo & co, breaking news: earnings, breakingnewsglobal, jpmorgan chase & co, morgan stanley, wall street, bank of america corp, business news, earnings, breaking news: markets, citigroup inc, goldman sachs group inc, breaking news: investing, investment strategy,
Source: https://www.cnbc.com/2023/07/14/jpmorgan-chase-jpm-earnings-2q-2023.html