JPMorgan Q2 Beats Expectations

JPMorgan, the largest bank in USA, was the first to release Q2 earnings report among the three largest banks in the United States, reported that the bank’s net profit fell by nearly half, due to a $ 10.8B charge for provisions against bad loans. However, the report came stronger than expected.

Here were the key figures versus the expectations for Q2, according to analysts polled by Bloomberg.

• Revenue (adjusted): $ 33.83 billion vs $ 30.4 billion expected

• Earnings per share (adjusted): $ 1.38 vs $ 1.05 per share expected

““Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy,” CEO Jamie Dimon said in a statement. “However, we are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm.”