JPMorgan Posts $15.3 Billion Q3 Profit, Missing Estimates as Dimon Warns on Economic Risks
Updated
Updated · Yahoo Finance · Oct 13
JPMorgan Posts $15.3 Billion Q3 Profit, Missing Estimates as Dimon Warns on Economic Risks
3 articles · Updated · Yahoo Finance · Oct 13
Summary
$5.57 a share in third-quarter earnings missed the $5.90 analyst consensus, even as JPMorgan's profit rose 6% year over year to $15.3 billion.
Revenue climbed 8% to $50.2 billion, but some major Wall Street businesses pulled back after a strong second quarter; excluding $658 million in paper securities losses, earnings were $5.75 a share.
Jamie Dimon said strong business investment and consumer spending still support the US economy, while fiscal deficits, sticky inflation, elevated asset prices, rising rates and geopolitical strains are shifting beneath the surface.
The results open a closely watched bank earnings week, with Goldman Sachs, Wells Fargo and Citigroup also reporting Tuesday and Bank of America, Morgan Stanley and BlackRock due Wednesday.