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JPMorgan Chase & Co. (JPM) Q3 Profit, Revenue Beat The Street

JPM – Beats Wall Street consensus EPS estimates by $0.10 and beats on revenues.


JPMorgan Chase & Co. (NYSE:JPM) early Thursday posted better than expected third quarter earnings results and reiterated its full-year business outlook.

The New York City-based banking giant reported Q3 earnings per share (EPS) of $1.76, which was $0.10 better than the Wall Street consensus estimate of $1.66.

Revenues rose 2.6% from last year to $25.33 billion, also easily topping analysts’ view for $24.91 billion.

Return on tangible core equity (RoTCE) was 13% in the latest period, down from 14% sequentially from Q2, but flat from 13% in the year-ago period.

Average core loans were up 7% year-over-year and 2% quarter-over-quarter, while credit card sales volume and merchant processing volume were each up 13%.

Looking ahead, JPM continues to see full-year net interest income to be up about $4 billion from last year, with adjusted expenses to be around $58 billion. Net charge-offs are still seen at $5 billion, and 2017 average core loan growth should be approximately 8%.

The company commented via press release:

“JPMorgan Chase delivered solid results in a competitive environment this quarter with steady core growth across the platform. And for the first time, the Firm led the nation in total U.S. deposits, as consumers and businesses continue to view us as their partner of choice.”

JPMorgan Chase & Co. shares rose $0.26 (+0.27%) in premarket trading Thursday. Year-to-date, JPM has gained 14.79%, versus a 15.71% rise in the benchmark S&P 500 index during the same period.

JPM currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 11 stocks in the Money Center Banks category.

JPM at a Glance

JPM Current POWR Rating™
Overall POWR Rating™
JPM Current Price $105.93 1.25%
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JPM Price Reaction

The day of this event (Oct. 12, 2017)
JPM Closing Price$95.99 0.88%
JPM Volume18,251,600
19.56% from avg
Leading up to this event
JPM 1-mo return7.17%
After this event
JPM 1-day return1.02%
JPM 3-day return0.80%
JPM 5-day return1.29%

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