JPMorgan Shares Fall over 5% After NII Miss, Higher Expense Guidance

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JPMorgan Shares Fall over 5% After NII Miss, Higher Expense Guidance

Bloomberg04-12

JPMorgan Chase & Co. reported net interest income that slightly missed analyst estimates and raised its expense guidance for the year, sending shares down.Shares of JPMorgan fell over 5% in morning ...

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The biggest U.S. lender's profit was $13.42 billion, or $4.44 per share, for the three months ended March 31. That compares with $12.62 billion, or $4.10 per share, a year earlier.  ","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"JPM":"摩根大通"},"translate_title":"摩根大通股价下跌超过5%后，NII错过，更高的费用指导","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JPM":1},"content_text":"JPMorgan Chase & Co. reported net interest income that slightly missed analyst estimates and raised its expense guidance for the year, sending shares down.Shares of JPMorgan fell over 5% in morning trading.The firm earned $23.1 billion in NII in the first three months of 2024, up 11% from a year earlier, according to a statement Friday. It still expects to earn about $90 billion from the key revenue source this year, but lifted its guidance excluding the markets business to about $89 billion. Adjusted expenses, meanwhile, could come in at about $91 billion for the year, higher than predicted earlier.“Many economic indicators continue to be favorable. However, looking ahead, we remain alert to a number of significant uncertain forces,” Chief Executive Officer Jamie Dimon said in the statement. He cited the wars, growing geopolitical tensions, persistent inflationary pressures and the effects of quantitative tightening.“We do not know how these factors will play out, but we must prepare the firm for a wide range of potential environments to ensure that we can consistently be there for clients,” he said.Friday’s results come as investors seek to assess the Federal Reserve’s interest-rate trajectory, particularly after an inflation reading Wednesday came in higher than expected. Dimon has been warning for months that inflation could be stickier than markets predict, and wrote in his annual shareholder letter on Monday that his firm is prepared for interest rates ranging from 2% to 8% “or even more.”JPMorgan also reported a surprise $72 million net reserve release, while analysts had predicted a $556 million build.The biggest US bank took a $725 million charge for an additional Federal Deposit Insurance Corp. assessment tied to a pair of bank failures last year.Investment-banking revenue came in at $2 billion, above analyst expectations. 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