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JPMorgan (JPM) Beats on Q3 Earnings & Revenue Estimates
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Have you been eager to see how JPMorgan (JPM - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major global bank’s earnings release this morning:
An Earnings Beat
JPMorgan came out with earnings of $2.68 per share, which surpassed the Zacks Consensus Estimate of $2.44.
Improved revenues were partly offset by a rise in expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for JPMorgan depicted optimistic stance prior to the earnings release. The Zacks Consensus Estimate moved 1.2% upward over the past 30 days.
JPMorgan have an impressive earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in three of trailing four quarters, as shown in the chart below:
Overall, the company has a positive earnings surprise of 3.1% in the trailing four quarters.
Revenue Higher Than Expected
JPMorgan recorded revenues of $29.3 billion, which beat the Zacks Consensus Estimate of $28.4 billion. Also, it compared favorably with the year-ago number of $27.3 billion.
Key Q3 Statistics:
Investment banking fees were up 7% year over year
Fixed Income Markets revenue grew 25% year over year
Equity Markets revenues fell 5% year over year
Provisions for credit losses jumped 60% year over year
Average Core loans up 1% year over year
Returned nearly $9.6 billion to shareholders through dividends and share buybacks
Basel III common equity Tier 1 ratio of 12.3%, as of Sep 30, 2019
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for JPMorgan. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Following the earnings release, JPMorgan’s shares are up 1.8% in the pre-trading session. This is in sync with to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this JPMorgan earnings report!
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JPMorgan (JPM) Beats on Q3 Earnings & Revenue Estimates
Have you been eager to see how JPMorgan (JPM - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major global bank’s earnings release this morning:
An Earnings Beat
JPMorgan came out with earnings of $2.68 per share, which surpassed the Zacks Consensus Estimate of $2.44.
Improved revenues were partly offset by a rise in expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for JPMorgan depicted optimistic stance prior to the earnings release. The Zacks Consensus Estimate moved 1.2% upward over the past 30 days.
JPMorgan have an impressive earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in three of trailing four quarters, as shown in the chart below:
JPMorgan Chase & Co. Price and EPS Surprise
JPMorgan Chase & Co. price-eps-surprise | JPMorgan Chase & Co. Quote
Overall, the company has a positive earnings surprise of 3.1% in the trailing four quarters.
Revenue Higher Than Expected
JPMorgan recorded revenues of $29.3 billion, which beat the Zacks Consensus Estimate of $28.4 billion. Also, it compared favorably with the year-ago number of $27.3 billion.
Key Q3 Statistics:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for JPMorgan. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
How the Market Reacted So Far
Following the earnings release, JPMorgan’s shares are up 1.8% in the pre-trading session. This is in sync with to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this JPMorgan earnings report!
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>