JPMorgan Chase posted better-than-expected data on earnings in the first quarter and the company's shares rose by 1.49% in Pre-Market.
Expected results: $1.52 per share
Actual results: $1.65 per share
The bank's net interest rate margin climbed 11 basis points to 2.33 percent, beating analysts estimates. Net interest margin, the difference between what a bank charges for loans and pays depositors, is a key measure of profitability for banks.
The report, which sent shares higher in early trading, is the first to show how much money the biggest U.S. banks made from helping clients trade bonds and stocks.
The 17 percent gain in fixed-income trading revenue, to $4.22 bln, was the smallest in a year. JPMorgan reported a surprise increase in equity trading, which rose 2 percent to $1.61 bln.
Source: Bloomberg
Junior Trader Alexander Kumanov
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.