Home

    You are here

JPMORGAN EARNINGS WORSE THAN EXPECTED

You are here

JPMorgan on STOCK.com

JPMORGAN EARNINGS WORSE THAN EXPECTED

Jan 14 2015, 1.20pm GMT

STOCK.com

JPMorgan reported a 6.6% drop in quarterly profit with net income down.

Image: iStock © David Henderson

Legal costs and US regulation to increase capital levels have driven JPMorgan profits down under expectations as the biggest U.S. bank by assets reported fourth-quarter earnings before trading opened today.

Shares stand at 58.68 before trading opens.

Forecasts from Thomson Reuters put earnings per share of $1.31 on $23.64 billion in revenue – actual figures were $1.19 per share, on revenue of $23.6 billion.

Highlights of the earnings report are as follows:

Fourth-quarter 2014 net income of $4.9 billion, and $1.19 per share, on revenue of $23.6 billion

Full-year 2014 net income of $21.8 billion, and record $5.29 per share, on revenue of $97.9 billion

Earnings per share were $1.19, compared with $1.30 in the fourth quarter of 2013.

Revenue for the quarter was $23.6 billion, down 2% compared with the prior year.

The Firm’s return on tangible common equity for the fourth quarter of 2014 was 11%, compared with 14% in the prior year.

Core loans increased by 8% compared with the prior year.

The Firm returned approximately $3 billion of capital to shareholders in the fourth quarter.

Jamie Dimon, Chairman and Chief Executive Officer, commented on the financial results:  “Each of our businesses and the company are very well positioned going into 2015 for long-term growth and success.”

Earlier in the day reports regarding statements from Goldman Sachs put JPMorgan as a stock that could increase in value by between 5% and 25% if the huge bank broke apart.

MT4 chart: JPMorgan

JPMorgan on STOCK.com

Trade stock CFDs on STOCK.com with full training given to all clients

Stocks Block Actions

Trading Platforms

MetaTrader

Through a simple native App download, be ready to log on to the powerful, intuitive MT4 platform and trade multiple assets on your desktop or through mobile

More on MetaTrader

WebTrader

Online access - anytime, anywhere - to your secure STOCK.com account, through desktop, tablet and mobile interfaces with no download necessary

More on WebTrader

Trading in CFDs involves significant risk to your invested capital