{"id":26887,"date":"2020-07-14T14:57:00","date_gmt":"2020-07-14T11:57:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jpmorgan-chase-beats-estimates-but-second-quarter-profits-plunge\/"},"modified":"2020-07-14T14:57:00","modified_gmt":"2020-07-14T11:57:00","slug":"jpmorgan-chase-beats-estimates-but-second-quarter-profits-plunge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jpmorgan-chase-beats-estimates-but-second-quarter-profits-plunge\/","title":{"rendered":"#JPMorgan Chase beats estimates, but second quarter profits plunge"},"content":{"rendered":"

“#JPMorgan Chase beats estimates, but second quarter profits plunge<\/strong>”<\/p>\n

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July 14, 2020 |<\/span> 7:57am <\/p>\n

\n JPMorgan Chase\u2019s second quarter earnings beat analyst expectations, but its profits plunged 51 percent as the coronavirus pandemic weighed on big banks.<\/p>\n

The mega-bank on Tuesday reported net income of nearly $4.7 billion from April through June, down from about $9.6 billion in the same period last year. Its earnings per share of $1.38 were also down from $2.82 a year ago but beat analysts\u2019 average estimate of $1.04, according to Refinitiv data, though it\u2019s uncertain whether the numbers are comparable.<\/p>\n

The earnings beat gave JPMorgan shares a boost in premarket trading. They were up 2.6 percent at $100.29 as of 7:22 a.m.<\/p>\n

JPMorgan also set aside another $8.9 billion last quarter to prepare for credit losses as the pandemic weighed on the global economy. The bank said it now has more than $34 billion in its credit reserves after adding nearly $6.8 billion in the first quarter.<\/p>\n

\u201cDespite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy,\u201d JPMorgan CEO Jamie Dimon said in a statement. \u201cHowever, we are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm.\u201d<\/p>\n

With Post wires<\/em>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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If you want to read more Business News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#JPMorgan Chase beats estimates, but second quarter profits plunge” July 14, 2020 | 7:57am JPMorgan Chase\u2019s second quarter earnings beat analyst expectations, but its profits plunged 51 percent as the coronavirus pandemic weighed on big banks. The mega-bank on Tuesday reported net income of nearly $4.7 billion from April through June, down from about $9.6…<\/p>\n","protected":false},"author":1,"featured_media":26888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[38380,38379],"class_list":["post-26887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-but-second-quarter-profits-plunge","tag-jpmorgan-chase-beats-estimates"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/26887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=26887"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/26887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/26888"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=26887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=26887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=26887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}