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Jp Morgan Chase Essay

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J.P. Morgan Chase & Co. Exceeds 3rd Quarter 2016 Predictions

J.P. Morgan Chase & Co. announced that it has surpassed revenue expectations for the third quarter of 2016, largely based on strong loan growth. Quarterly earnings of $25.51 billion generated $1.58 per share for the company's stockholders, and stock prices gained 1.7% on the morning after the news was announced. Financial analysts had anticipated earnings of $24 billion and dividends of $1.39 a share, but the quarter was surprisingly strong across the board—especially the capital markets where fixed income markets rose 48% for the quarter and revenue increased 33% over the past year.

Details of How the Company Exceeded Predictions

The quarter was especially satisfying due to some of the uncertainties in the market recently, such as concern over Brexit, Japanese and Chinese national debt problems, uncertainties in a presidential election year, talk of helicopter money and sluggish corporate profits that have worried some investors. Some analysts have even gone so far as to dust off The Chicago Plan as a potential solution to some of the world's banking problems. However, the bank's chairman and CEO, Jamie Dimon, reported that the company has done well in each business area and earned record net income in the Commercial Banking division and record-high loan balances in Asset Management. Other earnings details for the quarter include: …show more content…

• The bank's new credit card product, Sapphire Reserve, received an enthusiastic response.
• Slightly higher interest rates generated more income.
• Provisions for covering bad loans rose 86.4% to a total of $1.27 billion.
• The investment bank surpassed Wells Fargo in September to become the world's top bank as valued by market capitalization.

Slightly Lower Net Income Reflects Tax

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