BLOOMBERG.COM
JPMorgan Chase & Co. posted earnings that beat analysts’ estimates, fueled by better-than-expected trading results and lending margins.
JPMorgan Chase & Co. posted earnings that beat analysts’ estimates, fueled by better-than-expected trading results and lending margins.
The report, which sent JPMorgan shares higher in early trading, is the first to show how much money the biggest U.S. banks made from helping clients trade stocks and bonds. Chief Financial Officer Marianne Lake said in February that while markets revenue would be modestly higher in the first quarter, the firm would probably suffer from a difficult comparison to a strong performance in 2016.
Markets improved in March, helping the New York-based firm post a 17 percent gain in fixed-income trading revenue to $4.22 billion and a surprise increase in equity trading, which rose 2 percent to $1.61 billion. Trading revenue rose for a fourth straight quarter, the longest streak in at least a decade.
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