JPMorgan Chase Earnings Lower in Fourth Quarter
January 13, 2012
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Earnings Update: JPMorgan Chase
JPMorgan Chase (JPM) reported Q4 earnings per share of $0.90per share, which was below the FactSet consensus estimate of $0.93 (note that the First Call estimate was for $0.90). However it is unclear if the EPS number is directly comparable to the estimate due to various charges.
The company reported revenues of $21.47 billion vs. consensus of $23.02 billion.
The company said that the fourth-quarter profit was weighed down by the European debt crisis, which impacted trading and investment banking.
CEO Jamie Dimon said, “The Firm’s returns on tangible common equity1 for Q4 of 2011 and the full year 2011 were 11% and 15%, respectively. We believe these returns were reasonable given the environment, although the return for Q4 was modestly disappointing. As the economy continues to recover, we are gratified to see signs of improvement in loan demand and credit quality.”
The stock last traded in the after-hours session at $35.95, down $0.90 from the closing price of $36.85.
JPMorgan Chase Last 12 Months
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