Quantcast

JPMorgan Chase & Co. Reports Q4 Earnings Beat


Shutterstock photo

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

JPMorgan Chase & Co. (NYSE: JPM ) reported an earnings beat for the fourth quarter of 2017 on Friday.

JPMorgan Chase & Co. Reports Q4 Earnings Beat Source: via Wikimedia

During the fourth quarter of 2017, JPMorgan Chase & Co. reported earnings per share of $1.76. This matches the company's earnings per share reported in the same period of the year prior. It also beat out Wall Street's earnings per share estimate of $1.69 for the quarter.

JPMorgan Chase & Co. reported net income of $4.23 billion in the fourth quarter of 2017. The financial company's net income from the fourth quarter of 2016 was $6.73 billion. JPM notes that this drop is due to the enactment of the Tax Cuts and Jobs Act during its fourth quarter. Without it, net income would have only been down 1%.

Revenue reported by JPMorgan Chase & Co. in the fourth quarter of 2017 was $25.50 billion. This is an increase over its revenue of $24.33 billion that was reported in the same quarter of the previous year. It also came in above analysts' revenue estimate of $25.15 billion for the period.

JPMorgan Chase & Co. also released its results for the full year of 2017 in its most recent earnings report. The company notes that it reported earnings per share of $6.87 during the year. Wall Street was looking for earnings per share of $6.92 for the full year of 2017.

"The enactment of tax reform in the fourth quarter is a significant positive outcome for the country," Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co., said in a statement . "U.S. companies will be more competitive globally, which will ultimately benefit all Americans."

JPM stock was up slightly as of noon Friday.

More From InvestorPlace

As of this writing, William White did not hold a position in any of the aforementioned securities.

Compare Brokers

The post JPMorgan Chase & Co. Reports Q4 Earnings Beat appeared first on InvestorPlace .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks
Referenced Symbols: JPM


More from InvestorPlace Media

Subscribe






InvestorPlace Media
Contributor:

InvestorPlace Media

Investing, Financial News








Research Brokers before you trade

Want to trade FX?