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4/13/2018, 12:52 PM (Source: TeleTrader)
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JPMorgan's EPS rise 44% in Q1 to reach $2.37

The American financial services giant JPMorgan Chase announced on Friday its earnings per share (EPS) in the first quarter of 2018 stood at $2.37, marking a 44% increase compared to the same period last year. The company made a net income of $8.71 billion in the first three month period of the year, 35% more than in the same quarter of 2017. Meanwhile, the bank's net revenue for the same period amounted to $28.5 billion, a 10% rise annually.

Net interest income rose 9% to arrive at $13.5 billion, driven by "impact of higher rates and loan growth, partially offset by lower markets net interest income," the report stated. Meanwhile, noninterest revenue amounted to $15.1 billion, a 12% increase year on year, as a result of higher markets revenue and lower card net acquisition costs, among other things.

"2018 is off to a good start with our businesses performing well across the board, driving strong top-line growth and building on the momentum from last year. We have been outpacing the industry on consumer deposit growth while attracting significant net new money and growing client investment assets 13%. Card sales and merchant processing volume both grew double digits, reflecting our investments in new products and innovation focused on our customers' needs," Jamie Dimon, Chairman and CEO of JPMorgan stated.

Breaking the News / FH