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What to watch for in JPMorgan Chase's Q2 results

The US bank had record revenue in Q1, but its Q2 earnings could be impacted by passing a Federal Reserve stress test and depending more on digital banking.

JPMorgan Chase's share price may be affected by these three circumstances when it releases its Q2 earnings report July 16.

Analysts expect JPMorgan Chase’s Q2 revenue to increase

Analysts expect JPMorgan Chase’s Q2 revenue to top $29 billion, with 2.1% year-over-year growth. JPMorgan Chase already had a record Q1 results report with $29.9 billion in revenue. Financial experts also expect JPMorgan Chase’s Q2 earnings per share to grow 9.6% to $2.51.

Appealing to millennials could help JPMorgan Chase's Q2 earnings

JPMorgan Chase’s chief executive officer (CEO), Jamie Dimon, noted that many millennial customers are using the corporation’s Sapphire Card. Credit card sales volume rose by 10%.

‘We're gaining share in millennials every day,’ said Dimon.

Dimon noted that digital banking helps attracts customers in their 20’s that use the bank’s mobile app.

‘I mean we have a million people a day visit branches so millennials are doing it [visiting bank locations] less. We've got 50 million people on digital’, said Dimon.

The attempts to reach millennial clients could improve JPMorgan Chase’s Q2 revenue.

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Low interest rates may impact JPMorgan Chase's Q2 profits

Because the US Federal Reserve kept interest rates unchanged, large US banks like JPMorgan Chase could be under pressure around earnings season because low interest rates often mean less profit for banks, according to Short Hills Capital Partners’ Steve Weiss.

‘I just think it’s very tough given where [interest] rates are and where the [yield] curve is for them to make money,’ said Weiss.

Despite interest rates stagnating, JPMorgan Chase’s stock increased as the corporation passed Fed stress tests to determine if the bank has enough capital to withstand a financial crisis.

Investors will see if appealing to younger customers and passing Fed stress tests will help JPMorgan Chase’s Q2 earnings.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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