JPM - JPMorgan Q3 Earnings Beat: Robust Consumer & Community Banking Credit Losses Dip Outlook Revised & More | Benzinga
JPMorgan Chase & Co (NYSE: JPM) reported Q3 net revenue (managed) of $40.7 billion, up 21% Y/Y, beating the consensus of $39.57 billion.
Reported revenue was $39.87 billion in the quarter, up 22% Y/Y.
Consumer & Community Banking revenue increased 29% Y/Y to $18.4 billion, Corporate & Investment Banking was $11.7 billion (-2% Y/Y), and Commercial Banking was $4.0 billion (+32% Y/Y). Investment Banking fees were down 3% Y/Y due to lower advisory fees.
Asset and Wealth Management revenue was $5.0 billion (+10% Y/Y), and Corporate revenue of $1.6 billion included net investment securities losses of $669 million.
Noninterest revenue was $17.8 billion, up 12% Y/Y, or 8% Y/Y excluding First Republic, driven by higher CIB Markets noninterest revenue, higher asset management fees, and lower net investment securities losses.
Net interest income increased by 30% Y/Y to $22.9 billion ...