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Bank Earnings: One Big Takeaway from JPMorgan, Citi, Wells Fargo

January 14, 2020

Via: TheStreet
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Analysts sometimes tout diversified banks that can move revenue exposure to businesses away from the yield curve. That thread of logic proved very valid Tuesday.

Here were the earnings:

JPMorgan reported revenue of $28.3 billion, beating estimates of $27.8 billion. Earnings per share was $2.57, beating estimates $2.35. Net interest income — the amount of interest income minus amount of interest paid to lenders, was $4.3 billion, beating estimates of $14 billion. Markets revenue was $5 billion, up 56% year-over-year. CEO Jami Dimon mentioned this came against an easy comparable to the fourth quarter of 2018, when trading revenue suffered. Fixed-income revenue grew 86% to $3.4 billion.

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