Home Business & Finance Surpassing Expectations: JPMorgan Stock Drops Premarket: JPMorgan Earns Less | news

Surpassing Expectations: JPMorgan Stock Drops Premarket: JPMorgan Earns Less | news

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Nevertheless, the bank clearly exceeded the analysts’ profit expectations. CEO Jamie Dimon was confident. JPMorgan posted net income of $10.4 billion for the three months ended September, down 14 percent from the same period last year. Earnings per share were $3.33. Analysts had expected $3.01 in the factset consensus. Revenue was $29.3 billion, flat with the prior-year quarter. Analysts had forecast a little more at $29.8 billion. “We remain bullish on US economic growth as business sentiment is strong and consumers are benefiting from job growth and higher wages,” said CEO Dimon. As usual, JPMorgan kicked off the US banks’ reporting season. On Friday before the start of trading in the USA, Citigroup and Wells Fargo will present their figures, and next week it will be Morgan Stanley, Bank of America and Goldman Sachs. In Germany, Deutsche Bank will report on the course of the fourth quarter or the year 2021 the week after next. In premarket trading, JPMorgan shares on the NYSE are temporarily down 4.20 percent to $161.16. NEW YORK (Dow Jones)

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