JPMorgan Stock Rises Despite First Earnings Miss Since 2023
Photo: The Crypto Basic
JPMorgan Chase (NYSE: JPM) shares rose 1.71% to $340 in pre-market trading on Tuesday, despite the banking giant reporting its first quarterly earnings miss since late 2023, as weaker bond trading, a sequential decline in investment banking fees, and investment securities losses weighed on third-quarter results. The bank reported earnings of $5.57 per share for the quarter ended September 30, below the $5.85 analysts expected, according to LSEG estimates . Net income nevertheless rose 6% year over year to $15.3 billion, while managed revenue, which adjusts tax-exempt earnings to their taxable equivalent, climbed 8% to $50.9 billion.
Source: The Crypto Basic
