JP Morgan Chase shares fell 1.3% in pre-conference trading, as the bank announced lower quarterly earnings, which were lower than expected.
The bank also warned of financial challenges on the horizon.
JP Morgan said quarterly earnings fell to $ 8.28 billion, or $ 2.63 a share, from $ 14.3 billion, or $ 4.5 a share, a year ago.
Revenue fell to $ 30.7 billion from $ 32.27 billion. Analysts expected JP Morgan to earn $ 2.72 per share and revenue of $ 30.59 billion.
“We remain optimistic about the economy, at least in the short term, but we see significant geopolitical and economic challenges in the face of high inflation, supply chain issues and the war in Ukraine,” said Jamie Dimon, chief executive.
Source: Capital
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