1/14/2020, 12:50 PM (Source: TeleTrader)
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JPMorgan tops estimates with EPS of $2.57 in Q4

JPMorgan Chase & Co said on Tuesday its earnings per share stood at $2.57 in the fourth quarter of 2019, soaring 30% from the same period a year ago and topping market estimates.

Net income surged 21% to $8.5 billion, while reported net revenue jumped 8% year on year to $28.3 billion. For full fiscal 2019, the investment bank posted a net income of $36.4 billion, or $10.72 per share.

"JPMorgan Chase produced strong results in the fourth quarter of 2019, capping off a solid year for the Firm where we achieved many records, including record revenue and net income. While we face a continued high level of complex geopolitical issues, global growth stabilized, albeit at a lower level, and resolution of some trade issues helped support client and market activity towards the end of the year," CEO Jamie Dimon stated.

JPMorgan shares added 1.44% in premarket on better-than-expected results.

Breaking the News / NP