- USD 6.53 bln prev
- on revenue of $ 23.9 bln
- $1.28 a share vs $1.38 exp vs $1.59 prev
- profits down 19%
- Q1 provision for credit losses was $ 850 mln, up $ 233 mln y/y
- Q1 mortgage net income $114 mln down $559 mln
- fixed income market revenue $3.8 bln, down 21%
- equity market revenue $1.3 bln down 3% y/y
Not a good read on the headlines for the US banking giant’s latest figures with reduced revenue compounded by larger bad debt provisions. Sign of the times methinks
CEO Jamie Dimon says:
- we have growing confidence in the economy
- consumers, corporations and middle market companies are in increasingly good financial shape
- housing has turned the corner in most markets
Keep talking your book mate.
