Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 19, 2019

Article Excerpt

J.P. MORGAN CHASE & CO., $113.50, New York symbol JPM, is the largest banking firm in the U.S., with total assets of $2.73 trillion as of June 30, 2019. Morgan earned $9.65 billion in the three months ended June 30, 2019. That’s up 16.1% from $8.32 billion a year earlier. Per-share earnings jumped 23.1%, to $2.82 from $2.29 on fewer shares outstanding. The latest results included income tax benefits totalling $768 million, or $0.23 a share. If you factor out that gain, Morgan earned $2.59 a share in the quarter. That still beat the consensus estimate of $2.49. Revenue gained 4.1%, to $29.7 billion from $28.4 billion. That, too, exceeded the consensus forecast of $28.5 billion. Earnings from the bank’s consumer lending rose 22.3% on strong demand for new loans and credit cards. As well, earnings from Morgan’s corporate financing division improved to a profit of $828 million from a loss of $136 million a year earlier. Those gains offset weaker earnings for the…

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