JPMorgan Beats the Street on Profit

JPMorgan Chase & Co announced that its profit for the fourth quarter had increased 24% as the largest bank in the U.S. has to set less money aside for its bad loans and revenue from bond-trading increased at a rate higher than was estimated by analysts. ray ban homme pas cher Earnings were helped by better credit quality amongst consumers and companies in the U.S., which allowed the bank to take out close to $400 million from its reserves for bad loans in its mortgage, metals and energy businesses, said the bank on Friday afternoon. Fixed-income trading contributed as well to the bank’s gains. CEO Jamie Dimon said in December that stock and bond trading volume was far better following the election in the U.S. Cheap Nike Shoes Outlet UK Net income was up ending the quarter at $6.73 billion equal to $1.71 per share compared to $5.43 billion equal to $1.32 per share for the same period one year ago. Its adjusted per share earnings, which exclude a tax benefit of $475 million, one accounting adjustment and legal expenses were $1.62, which beat estimates by analysts that averaged $1.43. JPMorgan stock was up 1.2% in afternoon trading on Friday in New York. The stock has soared by 25% since the surprise win by Donald Trump in the U.S. asics femme pas cher presidential election as investors are betting that the tenure of the president-elect will bring a lowering of taxes, less regulations and higher interest rates. The credit losses provision was sitting at $864 million, which was far better than an estimate by analysts of $1.39 million and down from its $1.25 billion from one year ago. Revenue increased 2% to over $24.3 billion beating the $24.2 billion estimate by analysts. nike kd 9 pas cher Expenses were down 3% to end the quarter at $13.8 beating an analyst of $14 billion. Earnings for its corporate and investment bank, that Daniel Pinto runs, nearly doubled to just more than $3.42 billion boosted by a jump of 32% in trading revenue. Expenses were down 6%. Revenue from investment banking was up 1% ending at $1.5 billion on lower fees for advisory and equity underwriting, compared to an estimate of $1.59 billion by analysts. Nike Sko Nettbutikk Profit from its consumer and community banking arm operated by Gordon Smith was down 2% to just over $2.38 billion. Adidas Femme Revenue reached $11 billion, which was down 2% from one year earlier.

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