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Have you been eager to see how JPMorgan Chase & Co. (JPM - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major global bank’s earnings release this morning:
An Earnings Beat
JPMorgan came out with earnings of $1.65 per share, which beat the Zacks Consensus Estimate of $1.51. Earnings in the reported quarter include $218 million of legal expenses and $373 million of tax benefit.
Improved revenues primarily led to earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for JPMorgan depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate fell 1.3% over the last 30 days.
Nonetheless, JPMorgan have a decent earnings surprise history. Before posting the earnings beat in Q1, the company delivered positive surprises in all prior four quarters, as shown in the chart below:
Overall, the company has a positive earnings surprise of 12.2% in the trailing four quarters.
Revenue Higher Than Expected
JPMorgan recorded revenues of $25.6 billion, which surpassed the Zacks Consensus Estimate of $24.6 billion. Also, it compared favorably with the year-ago number of $24.1 billion.
Key Q1 Statistics:
Provisions for credit losses declined 28% year over year
Returned nearly $4.6 billion to shareholders through dividends and share buybacks
Average Core loans up 9% year over year
Investment Banking fees grew 37% year over year
Basel III common equity Tier 1 ratio of 12.4%, as of Mar 31, 2017
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for JPMorgan. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this JPMorgan earnings report!
How the Market Reacted So Far
Following the earnings release, JPMorgan shares were up 1.5% in the pre-trading session. This is in contrast with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>
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JPMorgan (JPM) Beats Q1 Earnings & Revenue Estimates
Have you been eager to see how JPMorgan Chase & Co. (JPM - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major global bank’s earnings release this morning:
An Earnings Beat
JPMorgan came out with earnings of $1.65 per share, which beat the Zacks Consensus Estimate of $1.51. Earnings in the reported quarter include $218 million of legal expenses and $373 million of tax benefit.
Improved revenues primarily led to earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for JPMorgan depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate fell 1.3% over the last 30 days.
Nonetheless, JPMorgan have a decent earnings surprise history. Before posting the earnings beat in Q1, the company delivered positive surprises in all prior four quarters, as shown in the chart below:
J P Morgan Chase & Co Price and EPS Surprise
J P Morgan Chase & Co Price and EPS Surprise | J P Morgan Chase & Co Quote
Overall, the company has a positive earnings surprise of 12.2% in the trailing four quarters.
Revenue Higher Than Expected
JPMorgan recorded revenues of $25.6 billion, which surpassed the Zacks Consensus Estimate of $24.6 billion. Also, it compared favorably with the year-ago number of $24.1 billion.
Key Q1 Statistics:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for JPMorgan. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this JPMorgan earnings report!
How the Market Reacted So Far
Following the earnings release, JPMorgan shares were up 1.5% in the pre-trading session. This is in contrast with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>