17 October 2022 | Other

JPMorgan earnings beat estimates of analysts

On Friday, JPMorgan Chase & Co. posted a decline in third-quarter profit. Nevertheless, the bank's earnings beat estimates of analysts. The increase in interest income made it easier to cope with higher loan loss provisions and reduced appetite for new deals. 

The key rate hike is usually beneficial for banks, as banking institutions can charge more interest from borrowers. On the other hand, a potential slowdown amid high interest rates incurred on loans puts banks' profits at risk. 

CEO Jamie Dimon also cited potential risks. However, according to him, US consumer spending is increasing and business is flourishing. Dimon says bank management hopes for a better outcome, but it always remains vigilant and is ready to solve any problems.

JPMorgan's net interest income, excluding income from markets, rose 51% this quarter amid rate hikes. The bank also revised up its annual forecast by about $3.5 billion. They expect income to hit $61.5 billion.

According to Refinitiv data, the bank reported adjusted profit of $3.36 per share,  well above analysts' forecast ($2.88 per share).

As noted by Credit Suisse analyst Susan Roth Katzke, the bank delivered strong results. In addition to this, she highlighted the bank's readiness to take necessary corrective measures in any macroeconomic conditions. 

Company MarketCheese
Brent sell
Period: 30.09.2026 Expectation: 250 pips
Brent crude sell-off targets $88.50
24 August 2026 33
Period: 30.09.2026 Expectation: 550 pips
Go short on SPX down to $7,600
24 August 2026 26
Period: 21.09.2026 Expectation: 2100 pips
Go short on USDCAD as dollar index hits three-month lows
21 August 2026 45
Period: 28.08.2026 Expectation: 1002 pips
GBPUSD is likely to climb further next week
21 August 2026 54
Period: 21.09.2026 Expectation: 950 pips
Buying AUDCAD up to 0.99250
21 August 2026 42
Period: 28.08.2026 Expectation: 540 pips
Brent crude is coming close to July highs
21 August 2026 44
Go to forecasts