JPMorgan posts big beat on Q4 earnings


<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "JPMorgan Chase & # 39; s (JPM), the largest US bank in terms of assets, kicked off the big banks' profit season on Tuesday with fourth quarter results that exceeded Wall Street estimates up and down. "data-reactid =" 22 "> JPMorgan Chase (JPM), the largest US bank in terms of assets, started the big banks' profit season on Tuesday with fourth-quarter results that exceeded estimates by Wall Street in the end.

At the start of the session, JPM's shares were up 1% from nearly $ 139 on Monday.

Here are the key figures compared to expectations, according to analysts interviewed by Bloomberg.

In a statement, JPMorgan CEO Jamie Dimon stressed the resilience and strength of American consumers in the face of widespread uncertainty, applauding a "solid year" of revenue and record revenue.

"As we face a high and continuous level of complex geopolitical problems, global growth has stabilized, albeit at a lower level, and the resolution of some trade problems has helped to sustain the Customer and market activity towards the end of the year, "said Dimon.

"The American consumer continues to be in a strong position and we see the benefits in all of our consumer businesses," he added.

In the fourth quarter, consumer and community banking saw their client investment assets increase by 27% and a jump of 5% in average deposits. Meanwhile, credit card sales volumes increased 10%, which, according to Dimon, was boosted by a "robust holiday season". Merchant processing volumes increased 7%.

Elsewhere, JPMorgan maintained its # 1 spot for global investment banking fees, with 9% of the portfolio share in 2019. Dimon noted that the company had increased its share of the bank portfolio. investment at the highest level in a decade and held first place for the 11th consecutive year.

Total market revenues reached $ 5 billion, up 56% from last year. Revenues from fixed income rebounded 86% to $ 3.4 billion, "benefiting from a favorable comparison from the weakness of the previous year".

The stock, traded on the New York Stock Exchange, gained more than 41% in 2019, surpassing the S&P 500's 25.8% gain for the year. JPMorgan's shares were trading about 1% higher before the market.

Dimon reiterated the company's commitment to invest and develop its business sectors. Last year, JPMorgan added more than 70 new branches in 16 markets, while expanding its commercial banking footprint internationally. Dimon also praised the fact that the firm has become "the first American bank to be approved for a securities company majority owned in China".

"We continue to invest heavily in technology, including AI, cloud, digital and payments, as well as other investments in innovation, talent, security and control risks. These actions will help us continue to grow and serve our customers in the future. I am extremely proud of the way we serve our customers, our customers and our communities globally – we support them in good and difficult times, and we work to earn their trust every day, "said Dimon.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Wells Fargo (WFC) and Citigroup (VS) will also report on Tuesday, followed by Bank of America (LAC) and Goldman Sachs (GS) Wednesday and Morgan Stanley (MRS) Thursday. "data-reactid =" 37 "> Wells Fargo (WFC) and Citigroup (C) will also report on Tuesday, followed by Bank of America (BAC) and Goldman Sachs (GS) Wednesday and Morgan Stanley (MS) Thursday.

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