JPMorgan's Earnings Rise Despite Concerns Over Interest Income and Expenses
TL;DR Summary
JPMorgan's shares fell after reporting that its net interest income slightly missed analyst estimates, indicating that the benefit of higher interest rates may be diminishing. The firm earned $23.1 billion in NII in the first quarter of 2024, up 11% from a year earlier, but lifted its guidance excluding the markets business to about $89 billion. Chief Financial Officer Jeremy Barnum stated that the lower expected markets-related NII would be "bottom-line neutral."
- JPMorgan Shares Fall After NII Miss, Higher Expense Guidance Bloomberg
- JPMorgan Chase shares drop after bank gives disappointing guidance on 2024 interest income CNBC
- JPMorgan profits rose 6% in 1Q but Dimon warns of 'persistent inflationary pressures' Yahoo Finance
- JPMorgan Stock Tumbles On Net Interest Income Guidance, Hennessy's Ellison Says, As Q1 Bank Reports Begin Forbes
- JPMorgan Chase Earnings Are Up First for Banks. Rates Cut Both Ways. Barron's
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