JPMorgan Chase reported a 10% rise in Q4 net revenue, surpassing estimates, fueled by robust investment banking fees and trading activity. The bank benefited from a market rally following President-elect Donald Trump's victory, as Wall Street anticipated relaxed regulations and lower taxes.
Markets revenue jumped 21% to $7 billion, with fixed income revenue up 20% to $5 billion and equity trading revenue increasing 22% to $2 billion. Total adjusted revenue reached $43.74 billion, exceeding analyst expectations of $42.01 billion, according to Bloomberg forecasts.
CEO Jamie Dimon highlighted the "resilient" US economy, driven by low unemployment and strong consumer spending. He noted growing business optimism due to a pro-growth agenda and better government-business collaboration. However, Dimon warned of risks from inflationary pressures and complex geopolitical conditions.
JPMorgan projects 2024 net interest income of $94 billion, above market expectations of $91.31 billion, with balance sheet growth partially offsetting lower interest rates.
For Q4, earnings reached $14 billion, or $4.81 per share, up from $9.3 billion, or $3.04 per share, a year ago. Annual profit hit a record $58.5 billion, or $19.75 per share.
Piper Sandler analysts praised the strong results, forecasting positive stock performance. Shares rose in early US trading on Wednesday.


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