JPMorgan misses estimates with revenue of $29.3B in Q4
JPMorgan Chase & Co said on Friday its reported revenue stood at $29.3 billion in the fourth quarter of 2021, unchanged compared to the same period a year earlier and missing market estimates.
The lender’s earnings per share (EPS) fell 12% year on year to $3.33 and net income in the three-month period amounted to $10.4 billion. Meanwhile, return of common equity fell to 16% and return on tangible common equity stood at 19%.
“JPMorgan Chase reported solid results across our businesses benefiting from elevated capital markets activity and a pick up in lending activity as firmwide average loans were up 6%. The economy continues to do quite well despite headwinds related to the Omicron variant, inflation and supply chain bottlenecks,” CEO Jamie Dimon stated.
JPMorgan shares were down 1.39% in premarket trading.
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