1/15, 12:59 PM (Source: TeleTrader)
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JPMorgan tops estimates with revenue of $29.2B in Q4

JPMorgan Chase & Co said on Friday its reported revenue stood at $29.2 billion in the fourth quarter of 2020, marking a 3% jump compared to the same period a year earlier and topping market estimates.

The lender's earnings per share (EPS) surged 47% year on year to $3.79 and net income in the three-month period amounted to $12.1 billion. Meanwhile, return of common equity rose to 19% and return on tangible common equity jumped to 24%.

"JPMorgan Chase reported strong results in the fourth quarter of 2020, concluding a challenging year where we generated record revenue, benefiting from our diversified business model and dedicated employees," CEO Jamie Dimon stated.

The bank's shares were up 0.08% in premarket trading.

Breaking the News / NP