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JPMorgan Chase (JPM) Q1 2024 earnings




JPMorgan Chase (JPM) Q1 2024 earnings

Jamie Dimon, president and CEO of JPMorgan Chase, speaks on CNBC’s “Squawk Box” at the annual meeting of the World Economic Forum in Davos, Switzerland, on January 17, 2024.

Adam Galic | CNBC

JPMorgan Chasee is expected to report first-quarter results before the opening bell Friday.

Here’s what Wall Street expects:

  • Income: According to LSEG, $4.11 per share
  • Gain: According to LSEG, $41.85 billion
  • Net interest income: According to StreetAccount, $23.18 billion
  • Trading income: Fixed income at $5.19 billion and equities at $2.57 billion, according to StreetAccount

JPMorgan will be closely watched for clues as to how the banks were doing early this year.

While the largest U.S. bank by assets has navigated the interest rate environment well since the Federal Reserve began raising rates two years ago, smaller peers have seen their profits come under pressure.

The industry has been forced to pay for deposits as customers shift cash to higher interest instruments, putting pressure on margins. Concerns are also growing about rising commercial loan losses, especially on office buildings and multifamily properties, and higher credit card defaults.

Still, large banks are expected to outperform smaller ones this quarter, and expectations for JPMorgan are high. Analysts believe the bank may raise expectations for net interest income in 2024 as the Federal Reserve is forced to keep interest rates steady amid persistent inflation data.

Analysts will also want to hear what CEO Jamie Dimon has to say about the economy and the industry’s efforts to resist efforts to cap credit card and overdraft fees.

Wall Street could provide some help this quarter as investment banking fees for the sector rose 11% from a year earlier, Dealogic said.

JPMorgan shares are up 15% this year, outperforming the KBW Bank Index’s 3.9% gain.

Wells Fargo And Citi Group are expected to announce results later Friday Goldman Sachs, bank of America And Morgan Stanley report back next week. a

This story is developing. Check back later for updates.

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