1/15/2019, 12:54 PM (Source: TeleTrader)
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JPMorgan Chase posts revenue at $26.8B in Q4, up 4% YoY

American banking giant JPMorgan Chase&Co. reported on Tuesday its revenue for the fourth quarter of the fiscal year 2018 stood at $26.8 billion, improving 4% compared to the same period a year ago. The company said its earnings per share for the fourth quarter of this year were $1.98, rising 85% year on year.

The bank's net income amounted to $7 billion in the last three months of the year, adding 67% compared to the same period in 2017 while the net interest income was $14.5 billion, rising 9% compared to the fourth quarter of last year due to highest rates and loan growth. Meanwhile, noninterest expenses were up by 6% on an annual basis, standing at $15.7 billion.

"2018 was another strong year for JPMorgan Chase, with the Firm generating record revenue and net income, even without the impact of tax reform. Each line of business grew revenue and net income for the year while continuing to make significant investments in products, people and technology, demonstrating the power of the platform," said the company's CEO Jamie Dimon.

Following the release of corporate results, JP Morgan Chase shares dropped 1.77% during the premarket sale on Wall Street.

Breaking the News / VK