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JPMorgan Q3 Earnings Surpass Expectations with $4.37 EPS, $43.32B Revenue, Stock Hits $213.42

Oct 11, 2024, 10:53 AM

JPMorgan Chase reported its third-quarter earnings for 2024, surpassing market expectations. The bank reported an adjusted earnings per share (EPS) of $4.37, exceeding the estimated $4.01. Adjusted revenue for the quarter was $43.32 billion, higher than the anticipated $41.9 billion. Investment banking revenue reached $2.35 billion, surpassing the forecasted $2.13 billion. Total deposits were $2.43 trillion, slightly above the expected $2.4 trillion, and loans stood at $1.34 trillion, just above the estimate of $1.33 trillion. Managed net interest income was $23.53 billion, exceeding the estimate of $22.8 billion. The provision for credit losses was $3.11 billion, higher than the expected $2.94 billion. JPMorgan also raised its full-year net interest income forecast to about $92.5 billion, up from the previous estimate of about $91 billion. The quarter included a $1 billion net reserve build. Equities sales and trading revenue was $2.62 billion. The stock price climbed to $213.42 following the earnings report.