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Bank Earnings:Historical Results/2023 Q1: Difference between revisions
Bank Earnings:Historical Results/2023 Q1 (view source)
Revision as of 12:15, 14 April 2023
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* Commentaries from banking heads on the state of the economy will be crucial. Jamie Dimon is an interesing one to listen to<ref>https://finance.yahoo.com/video/bank-stocks-expect-goldman-sachs-153809737.html</ref>. | * Commentaries from banking heads on the state of the economy will be crucial. Jamie Dimon is an interesing one to listen to<ref>https://finance.yahoo.com/video/bank-stocks-expect-goldman-sachs-153809737.html</ref>. | ||
* Investment banking performance shows the state of deal-making, debt and equity underwriting<ref name=":0" />. | * Investment banking performance shows the state of deal-making, debt and equity underwriting<ref name=":0" />. | ||
== Results == | |||
{| class="wikitable" | |||
!Bank | |||
! | |||
!Estimate | |||
!Actual | |||
!Remarks touching on the economy | |||
|- | |||
|JP Morgan<ref>https://www.cnbc.com/2023/04/14/jpmorgan-chase-jpm-earnings-1q-2023.html?__source=androidappshare | |||
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2023/1st-quarter/be0fc3a0-c499-4af9-933c-6e7f75025097.pdf</ref> | |||
|Revenue | |||
|$36.19 billion | |||
|$39.34 billion | |||
|“The U.S. economy continues to be on generally healthy footings —consumers are still spending and have strong balance sheets, and businesses are in good shape. However, the storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks. The banking situation is distinct from 2008 as it has involved far fewer financial players and fewer issues that need to be resolved, but financial conditions will likely tighten as lenders become more conservative, and we do not know if this will slow consumer spending. We also continue to monitor for potentially higher inflation for longer (and thus higher interest rates), the inflationary impact of continued fiscal stimulus, the unprecedented quantitative tightening, and geopolitical tensions including relations with China and the unpredictable war in Ukraine. While we hope these clouds will dissipate, the Firm is prepared for a broad range of outcomes, and we are confident that we can serve the needs of our customers and clients in all environments.” CEO Jamie Dimon said. | |||
|- | |||
| | |||
|Adjusted earnings | |||
|$3.41 per share | |||
|$4.32 per share | |||
| | |||
|- | |||
| | |||
|Provision for credit losses | |||
|$2.27 billion | |||
|$2.275 billion | |||
| | |||
|- | |||
| | |||
|Average deposits | |||
| | |||
| -8% | |||
| | |||
|- | |||
| | |||
|Combined debit and credit card sales | |||
| | |||
| +10% | |||
| | |||
|- | |||
| | |||
|Average loans | |||
| | |||
| +6% | |||
| | |||
|- | |||
| | |||
|Net interest income | |||
| | |||
| +49% | |||
| | |||
|} | |||