JPM - What's Going On With JPMorgan Shares Today? | Benzinga
JPMorgan Chase & Co. (NYSE:JPM) shares are trading lower after it reported first-quarter FY24 results.
Net revenue (managed) of $42.5 billion (+8% Y/Y), beating the consensus of $41.8 billion.
Reported revenue was $41.9 billion in the quarter, up 9% Y/Y. Consumer & Community Banking (CCB) revenue increased 7% Y/Y to $17.7 billion, Corporate & Investment Banking was $13.6 billion (flat Y/Y), and Commercial Banking was $4.0 billion (+13% Y/Y).
Investment Banking fees were up 21% Y/Y, led by higher debt and equity underwriting fees. Asset and Wealth Management revenue was $5.1 billion (+7% Y/Y), and Corporate revenue stood at $2.2 billion in the quarter.
Net interest income increased by 11% Y/Y to $23.2 billion and +5% Y/Y, excluding First Republic.
Noninterest revenue was $19.3 billion, up 5% Y/Y, or up 3% Y/Y excluding First Republic, driven by higher asset management and Investment Banking fees.
Noninterest expense was $22.8 billion, up 13% Y/Y, or +9% Y/Y, excluding First Republic.
Excluding an item resulted in an ...