JPMorgan Chase’s earnings are off – listed here are the numbers

Jamie Dimon, CEO of JP Morgan Chase, will appear in CNBC’s Squawk Box on January 22nd, 2020 at the 2020 World Economic Forum in Davos, Switzerland.

Adam Galica | CNBC

JPMorgan Chase reported a fourth quarter profit ahead of Friday’s opening bell.

Here are the numbers:

  • Earnings: $ 3.79 per share versus $ 2.62 per share, according to Refinitiv.
  • Revenue: $ 30.16 billion versus $ 28.70 billion according to Refinitiv.

JPMorgan Chase, the first major lender to report fourth quarter earnings, is being watched closely for clues as to how the industry is weathering the coronavirus pandemic.

An important question is whether banks, which allocated tens of billions to cover loan losses over the past year, have largely finished preparing for defaulted loans, and may even start releasing reserves.

A bright spot for Wall Street in 2020 was trading, which is expected to be the best year in terms of total revenue since the financial crisis thanks to unprecedented moves by the Federal Reserve to support markets. Investment bankers also benefited from the fact that wide-open markets brought increased demand for IPOs and a record rate of debt issuance.

Last month, CEO Jamie Dimon said he expected commercial and investment banking revenues to grow 20% year over year in the fourth quarter.

Analysts might ask Dimon about succession planning after a health crisis he had last year. Although it was widely reported that Dimon had heart surgery in March last year, he recently told the Wall Street Journal that his condition was so precarious that he thought he “couldn’t make it”.

Analysts will also be excited to see how quickly the bank expects share buybacks. JPMorgan announced a $ 30 billion share buyback program last month after the Federal Reserve announced the industry could resume buybacks in the first quarter.

JPMorgan stocks were down 8.7% over the past year, compared with the KBW Bank Index’s 4.3% decline.

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