Company News: JPMorgan Chase (JPM) quarterly results miss analysts’ estimates

Market news

14 April 2020

Company News: JPMorgan Chase (JPM) quarterly results miss analysts’ estimates

JPMorgan Chase (JPM) reported Q1 FY 2020 earnings of $0.78 per share (versus $2.65 per share in Q1 FY 2019), missing analysts' consensus estimate of $2.20 per share.

The company's quarterly revenues amounted to $28.251 bln (-3.0% y/y), missing analysts' consensus estimate of $29.453 bln.

The company noted the provision for credit losses was $8.3 bln, up $6.8 bln from the prior year, driven by reserve builds which reflect deterioration in the macro-economic environment as a result of the impact of COVID-19 and continued pressure on oil prices.

JPM rose to $98.70 (+0.52%) in pre-market trading.

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