Here's What Powered JPMorgan Chase to a Pair of Third-Quarter Beats

Motley Fool10-17

Hint: It wasn't its bedrock consumer and community banking operation. Instead, it was a unit that managed to boost its revenue nearly 10% higher year over year. Last Friday, you could almost ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2476122917?lang=en_US&edition=fundamental","thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794097%2F2-kids-holding-american-currency.jpg&op=resize&w=165&h=104","is_english":true,"pubTime":"2024-10-17 21:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2476122917","market":"fut","top_or_hot":-1,"title":"Here's What Powered JPMorgan Chase to a Pair of Third-Quarter Beats","media":"Motley Fool","content":"<div>\n<p>Hint: It wasn't its bedrock consumer and community banking operation.\n\n\n\n\n\n\n\nInstead, it was a unit that managed to boost its revenue nearly 10% higher year over year.\n\nLast Friday, you could almost ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/10/17/heres-what-powered-jpmorgan-chase-to-a-pair-of-thi/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's What Powered JPMorgan Chase to a Pair of Third-Quarter Beats</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's What Powered JPMorgan Chase to a Pair of Third-Quarter Beats\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-17 21:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/10/17/heres-what-powered-jpmorgan-chase-to-a-pair-of-thi/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hint: It wasn't its bedrock consumer and community banking operation.\n\n\n\n\n\n\n\nInstead, it was a unit that managed to boost its revenue nearly 10% higher year over year.\n\nLast Friday, you could almost ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/10/17/heres-what-powered-jpmorgan-chase-to-a-pair-of-thi/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1162221912.USD","symbol_name":"FRANKLIN INCOME \"A\" (USD) ACC","start_time":0,"source_url":"https://www.fool.com/investing/2024/10/17/heres-what-powered-jpmorgan-chase-to-a-pair-of-thi/","article_id":"2476122917","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794097%2F2-kids-holding-american-currency.jpg&op=resize&w=165&h=104"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476122917","pubTimestamp":1729171320,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"It's a fine time to be a power player on the capital markets.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1261432733.SGD":"Fidelity World A-ACC-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4211":"区域性银行","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0106831901.USD":"贝莱德世界金融基金A2","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","BK4588":"碎股","LU1032466523.USD":"高盛全球多资产收益组合Acc","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","JPM":"摩根大通","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU":"陆金所","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","CCB":"Coastal Financial Corp","BK4581":"高盛持仓","BK4504":"桥水持仓","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0238689110.USD":"贝莱德环球动力股票基金","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","CIB":"哥伦比亚银行"},"translate_title":"以下是摩根大通第三季度表现出色的动力","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCB":1,"CIB":1,"JPM":1,"US7Y.BOND":0.64,"US6M.BOND":0.64,"US5Y.BOND":0.64,"US3Y.BOND":0.64,"US30Y.BOND":0.64,"US2Y.BOND":0.64,"US12M.BOND":0.64,"US10Y.BOND":0.64,"US912797HE00.BOND":0.6,"LU":0.6},"content_text":"Hint: It wasn't its bedrock consumer and community banking operation.\n\n\n\n\n\n\n\nInstead, it was a unit that managed to boost its revenue nearly 10% higher year over year.\n\nLast Friday, you could almost hear a collective sigh of relief from the stock market and from economists after JPMorgan Chase (JPM 0.56%) published its third-quarter results. The company is the largest bank in this country, which is saying something given the massive size and the heft of our economy. So how it performs is often seen as something of a bellwether not only for the wider banking sector, but for American business generally.Happily for people who view it that way, JPMorgan Chase's quarterly performance was very good. That, combined with the subsequent third-quarter earnings beats delivered by fellow Big Four banks Wells Fargo, Bank of America, and Citigroup, only helped to boost confidence in the U.S. financial system. Let's put JPMorgan Chase's quarter under the microscope to discover what underpinned the leading lender's success. Investment banking for the winThe quarter saw JPMorgan Chase amass more than $42.6 billion in revenue, for year-over-year improvement of 7%. That filtered down into net interest income (NII), which is the crucial metric measuring a bank's take on interest-bearing assets, of $23.5 billion. That was 3% higher than in the comparable period of 2023. Going in the opposite direction, although not worryingly so, was GAAP net income. This dipped by 2% from the same quarter of last year to hit slightly under $13 billion, or $4.37 per share. As for other important financial yardsticks, JPMorgan Chase's average loans and average deposits both climbed slightly upwards at 1% year over year.Both headline figures were well above the consensus analyst estimates. On average, pundits tracking JPMorgan Chase were expecting less than $41.5 billion in revenue and $3.99 per share for GAAP profitability. That's a solid pair of beats. How did a bank that barely expanded its deposit base or loan book manage to top expectations to that degree?In a word -- OK, two words -- investment banking. JPMorgan Chase splits its business into four units; these days its commercial and investment bank (CIB) operation is nearly the equal of its bedrock consumer and community banking (CCB) unit in terms of revenue contribution (both pulled in more than $17 billion for the quarter). CIB's take rose by 8% to cross that $17 billion barrier, which can be chalked up to the company being a powerhouse in a range of investment banking segments. That's a fine position to be in these days, as capital markets of all kinds remain frothy, and there's still plenty of hunger for up-and-coming businesses to list on the stock exchange.King of the hillOf course, any bank stock investor always has his or her eye on those deposit and loan figures. JPMorgan Chase didn't move the needle much on either during the quarter, but if I were a shareholder I wouldn't lose a lot of sleep over this. Firstly, the lender is such a mighty presence in other corners of banking and finance. It's not only a top investment banker, but also the No. 1 credit card issuer in the U.S., according to several different metrics. Besides, we haven't yet felt the full effects of the Federal Reserve's (Fed) recent 50 basis point rate cut. Fed trimmings can fall either way for banks, as cooling rates can eat into profitability, but boost demand for loan products. Yet if any bank can find a way to push its fundamentals higher in the new environment, it's this big and powerful one. So to sum, JPMorgan Chase's third-quarter earnings continue to support the buy case for the stock. The company should continue to keep humming along, barring no sudden economic catastrophe, and its stock remains a top pick atop the heap of large American banks.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2476122917"}