JPM Stock ( NYSE:JPM )
Premarket trade on Friday showed a 2.2% drop in JPMorgan Chase ( NYSE:JPM ) stock due to the bank’s expectations of increasing spending in 2023 compared to the previous year. Nonetheless, the company’s fourth-quarter profits were above expectations thanks to its Consumer Banking and Commercial Banking units, which more than made up for the weakness of Corporate & Investment Banking. As a result, JPM stock declined.
JPM stock has been able to restart its repurchase this quarter because of “strong earnings generation” and “the implementation of our capital plan,” as Chairman and CEO Jamie Dimon put it.
Compared to the actual non-interest expenditure of $76.1B in FY2022, the adjusted noninterest expense guidance for FY2023 is $81B.
Depending on market conditions, the bank anticipates an FY2023 overall net interest income of $73B, with a net interest income of $74B if Markets are excluded. An estimated $74.7B in revenue.
From $3.12 in Q3 and $3.03 in Q4 2021, adjusted EPS of $3.56 in Q4 is above the $3.10 expectation. The corrected number for Q4 2022 takes out a $0.23 gain from the sale of Visa B shares and a $0.22 loss on net investment securities in Corporate.
Amounts spent on things other than interest in the fourth quarter averaged $19.0 billion, up from $17.9 billion a year earlier.
The company’s provision for credit losses of $2.29B was higher than the $2.19B, up from $1.54B in the previous quarter and reversing from a gain of $1.29B in the year-ago period.
Compared ...
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