(Image Source: Wall St. Cheat Sheet)

 

BY TATIANA DARIE

 

JPMorgan Chase, which holds the most assets of any bank in the country reported $5.4 billion profit in its first quarter this year. The figures are down from last year’s $5.6bn but still better than Wall Street forecasted. Bloomberg has the story...

 

“One stock stands out right now is JPMorgan. First quarter number out this morning, the revenue grew, profits fell though, with more on the earnings and potentially outside trades...”

 

While JPMorgan’s earnings per share rose from $1.28 to $1.31, so did their expenses. The reason? Mortgage-related liabilities. The bank added $2.5 billion in reserves to cover litigation expenses- something that left analysts skeptical. CNBC takes a look inside the results....

 

“The concern from it becomes what’s specifically left for JPMorgan to put up $2.5 bn of reserves against? They’ve been putting up a lot of reserves in the corporate segments against mortgages so is there something new, or larger losses on the horizon than we were expecting?”

 

Meanwhile the bank’s profits raise hopes for Wall Street. Analysts started to chime in with their views on the quarter. Evercore’s managing editor says on Forbes...

 

“Overall, good results with strong beat driven by materially lower credit costs, better-than-expected trading results, and healthy mortgage banking..."

 

A blogger for ValueWalk says that the figures may be good news for the world economy...

 

“Today’s results will quite possibly lead the markets to be more confident in JPMorgan’s future performance... This could be the year when US financial institutions finally recover from the 2008 financial crisis.”

 

But there are some dark spots. The Daily Telegraph says...

 

“While analysts had anticipated that the first quarter would be better than the fourth, there remains some scepticism that Wall Street banks can improve on it without Europe's debt crisis abating and the US economy strengthening further.”

JPMorgan Chase Reports $5.4bn First-Quarter Profit

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Apr 14, 2012

JPMorgan Chase Reports $5.4bn First-Quarter Profit

(Image Source: Wall St. Cheat Sheet)

 

BY TATIANA DARIE

 

JPMorgan Chase, which holds the most assets of any bank in the country reported $5.4 billion profit in its first quarter this year. The figures are down from last year’s $5.6bn but still better than Wall Street forecasted. Bloomberg has the story...

 

“One stock stands out right now is JPMorgan. First quarter number out this morning, the revenue grew, profits fell though, with more on the earnings and potentially outside trades...”

 

While JPMorgan’s earnings per share rose from $1.28 to $1.31, so did their expenses. The reason? Mortgage-related liabilities. The bank added $2.5 billion in reserves to cover litigation expenses- something that left analysts skeptical. CNBC takes a look inside the results....

 

“The concern from it becomes what’s specifically left for JPMorgan to put up $2.5 bn of reserves against? They’ve been putting up a lot of reserves in the corporate segments against mortgages so is there something new, or larger losses on the horizon than we were expecting?”

 

Meanwhile the bank’s profits raise hopes for Wall Street. Analysts started to chime in with their views on the quarter. Evercore’s managing editor says on Forbes...

 

“Overall, good results with strong beat driven by materially lower credit costs, better-than-expected trading results, and healthy mortgage banking..."

 

A blogger for ValueWalk says that the figures may be good news for the world economy...

 

“Today’s results will quite possibly lead the markets to be more confident in JPMorgan’s future performance... This could be the year when US financial institutions finally recover from the 2008 financial crisis.”

 

But there are some dark spots. The Daily Telegraph says...

 

“While analysts had anticipated that the first quarter would be better than the fourth, there remains some scepticism that Wall Street banks can improve on it without Europe's debt crisis abating and the US economy strengthening further.”

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