JP Morgan Q2 figures beat expectations

October 13, 2020
JP Morgan Q2 figures beat expectations

Investment fees jump. The bank tops earnings estimates

JP Morgan Chase and Co published its Q3 figures, and the results turned out to be promising.

In Q3, the bank's net income figures came in at $9.443 billion, or $2.92 per share, topping last year's $9.080 billion, or $2.68 a share.

The revenue beat the expectations of $28.215 billion, coming in at $29.215 billion.

JP Morgan said that the investment fees rose 9% and reached $2.2 billion after the pandemic's capital increased.

The bank set aside $611 million for loan losses, down from last year's $903 million.

JP Morgan didn't provide any further guidance. Year-to-date, the bank's shares went up 27%. Following the report, their stock price added 0.8%.

Sources: marketwatch.com, cnbc.com

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