JPMorgan Chase announced first-quarter results Friday morning, posting earnings of $2.37 a share. Analysts had expected earnings of $2.28.
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JPMorgan beats, profits jump 35% (JPM)
JPMorgan just announced first-quarter earnings results.
The beat was driven by gains across every key business line, with higher interest rates benefitting most of the bank's businesses. Here are the key numbers:
- Revenue:
- Adjusted net income:
- Adjustments:
- Consumer and community banking:
- Corporate and investment banking:
- Commercial banking:
- Asset and wealth management:
"2018 is off to a good start with our businesses performing well across the board, driving strong top-line growth and building on the momentum from last year," JPMorgan CEO Jamie Dimon said in a statement.
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The fourth-quarter of 2017, by comparison, was noisy and uneven thanks in part to the new tax law, which caused many banks to book one-time losses on repatriated cash and deferred tax assets that declined in value.
JPMorgan took a $2.4 billion hit from the new law last quarter.
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