JP Morgan announced it finished the fourth quarter of full year 2022 (its fiscal third quarter) with EPS (earnings per share) of $3.57 compared to $3.33 prior in the same period of 2021.
The FactSet consensus had forecast EPS at $3.08.
JP Morgan revenue rose to $34.547 billion from $29.257 billion in the same period a year earlier and against expectations of $34.353 billion.
CEO Jamie Dimon commented on the results of JP Morgan, the number one bank in the United States by value of assets, stating that the US economy “remains solid for the moment” thanks to the positive financial conditions of consumers and companies.
“However – added Dimon – we do not yet know what will be the ultimate effects of the obstacles deriving from geopolitical tensions, which include the war in Ukraine, the vulnerability of energy and food supplies, persistent inflation which is eroding the purchasing power and driving up interest rates, and the unprecedented Quantitative Tightening (by the Fed). We remain vigilant – added the CEO of JP Morgan – and we are ready for anything that should happen, so that we can serve our customers, and communities around the world “. The JP Morgan stock reacts to the publication of the quarterly report with a drop of more than 2% in the pre-market on Wall Street.