JPMorgan EPS rise 26% to $2.29 in Q2

Business 7/13/2018, 12:51 PM
JPMorgan EPS rise 26% to $2.29 in Q2

The American financial services giant JPMorgan Chase announced on Friday its earnings per share in the second quarter of 2018 stood at $2.29, marking a 26% rise compared to the same period a year ago. Meanwhile, the bank's net income rose by 18% annually to reach $8.32 billion in the same quarter. Net revenues amounted to $28.39 billion, marking a 6% rise compared to last year's figure.

Meanwhile, net interest income was up 9% year-on-year to arrive at $13.6 billion in Q2, primarily due to the impact of higher rates and loan growth, but partially offset by lower markets net interest income, the company specified. At the same time, noninterest revenue amounted to $14.7 billion, rising 4% as a result of "higher Markets revenue, investment banking fees and auto lease income" but subdued by lower card net interchange income.

"The healthy U.S. consumer drove double-digit growth in client investment assets, card sales and merchant processing volumes. Capital markets were open and active, leading to strong fee and markets revenue performance," Jamie Dimon, bank's Chairman and CEO said, adding that the company delivered record results this quarter.

JPMorgan shares reacted positively to the report, gaining by 0.85% in the premarket trade.

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