JPMorgan: Q2 earnings

Summary of JPMorgan's earnings for its second quarter, following which shares went up 1.4% in the pre-market (12.04pm London time).

 

Revenue

Earnings per share

Expected

$23.89 billion $1.31

Actual

$25.35 billion $1.59

 

Start trading nowlog in or see live chart

The tone of JPMorgan’s results pointed to the possibility that lending may soon be increased by major banks, in a bid to kick-start the US economy in the wake of its first quarter slump.

Overall the picture was not exciting – profits were down 8% from the second quarter last year, while expectations were low allowing the bank to easily surpass them (although this is a feature not confined to JPMorgan).

Small business loans surged by 50%, the beginnings of a trend that may help to offset the reduction of stimulus being carried out by the Federal Reserve. Trading revenues were lower, but mergers and acquisitions and underwriting activity was still strong. Perhaps the most disappointing element was the fall in mortgage lending, which hit $17 billion from $50 billion last year.

A choppy year so far for JPMorgan shares has seen them bounce either side of the 200-daily moving average. However the results were received with a 3.7% increase in the share price, pushing it to its highest level since April. Now it needs to move on above $60, with a potential cross of the 50-DMA above the 200-DMA sending an encouraging signal to technical traders

Here is a full list of US stocks that can be traded outside New York Stock Exchange trading hours of 2.30pm to 9pm (London time).

Denna information har sammanställts av IG, ett handelsnamn för IG Markets Limited. Utöver friskrivningen nedan innehåller materialet på denna sida inte ett fastställande av våra handelspriser, eller ett erbjudande om en transaktion i ett finansiellt instrument. IG accepterar inget ansvar för eventuella åtgärder som görs eller inte görs baserat på detta material eller för de följder detta kan få. Inga garantier ges för riktigheten eller fullständigheten av denna information. Någon person som agerar på informationen gör det således på egen risk. Materialet tar inte hänsyn till specifika placeringsmål, ekonomiska situationer och behov av någon specifik person som får ta del av detta. Det har inte upprättats i enlighet med rättsliga krav som ställs för att främja oberoende investeringsanalyser utan skall betraktas som marknadsföringsmaterial.