New York - JPMorgan Chase & Co. said on Friday it recorded net income of US $ 6.29 billion in the third quarter, or $ 1.58 per share.
The result was below the profit of $ 6.8 billion in the same period of 2015 (down 7.6% on year comparison), or $ 1.68 per share. Analysts polled by Thomson Reuters expected earnings of $ 1.39 per share, so the result was better than expected.
The company's revenue rose to $ 25.51 billion. Analysts had expected in this case, $ 24 billion.
The largest US bank by assets thus opened the bank balance sheets season in the third quarter. After the balance sheet, the company's stock rose 1.83% in pre-market in New York. The chief executive of the bank, James Dimon, stated in the balance sheet that the company had record earnings in its commercial banking and also loan balance record in asset management area.
Analysts believe that the balance expected of the big banks can be characterized by the current pressure on revenues, given the low interest rates and lower revenue from trading at this time of year.
Shares of major banks were affected in the first half of this year by concerns about the slowdown in China and defaults of oil companies. The largest US banks, however, fared better than European and negotiations in preparation for the departure of the United Kingdom of the European Union in June provided a boost in activity that generally helped the latest results.
The stock of JPMorgan is also accompanied because of its large international presence (like Citigroup). Analysts seek to assess how the situation in Europe and the so-called "Brexit" reflect on markets and plans of banks to their teams on the continent. Source: Dow Jones Newswires.
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