JPMorgan Chase earnings for Q2 news
Shares of JPMorgan Chase & Co. (JPM) closed marginally higher on July 14, 2020, at 98.21+0.56 (+0.57%).
“JPM had stronger-than-expected earnings despite net interest margin decline.
EPS was $1.38 vs. the $1.08 analysts expected.
Revenue was higher than expected as trading revenue soared due to market volatility.
Net interest margins were lower than expected.
JPM reported significantly higher-than-expected profits for Q2 2020. Trading revenue surged, as the volatile markets helped provide a revenue source to boost revenue above analysts’ expectations. This was especially important because net interest margins declined by even more than expected, as the Fed’s decision to drop interest rates has pressured banks across the board. JPM’s stock is up by 1.2% today at time of writing.
Another focus of investors will be JPMorgan’s net interest margin, which measures the difference between the net interest income JP Morgan earns on its loans and the outgoing interest it pays to customers for money, including holders of savings accounts. That margin is expected to fall to 2.18% from 2.49% in Q2 FY 2019.”
JPMorgan stock chart