FINANCIAL INSTITUTIONS QUARTERLY EARNINGS RESULTS
April 12th, 2024 - Following the publication of the first-quarter report, JPMorgan shares fell around 5% on Friday. The company beat analysts’ expectations on diluted EPS, by almost 0.50 cents, reporting a $4.63 diluted EPS (+ 12.9% YoY). Revenue also were better than expected ($41.9 billion vs. the estimated $41.28 billion) and they grew 9.3% YoY. The international bank did though miss analysts’ expectations on its net interest income, that was at $23.2 billion and well below the record just set in the last quarter of fiscal 2023, which was $24.1 billion. Earlier this week CEO Jamie Dimon in his annual letter to shareholders warned investors saying that he believes that the chances of a soft landing are a lot lower than what the market is currently pricing (70/80% chance),…