JPMorgan Chase had a net profit of US$ 11 billion in the fourth quarter of 2022, a result 6% higher than the gain of US$ 10.4 billion obtained in the same period of 2021, according to a balance sheet published this Friday (13) . Earnings per share for the largest US bank between October and December came in at $3.57, well above the forecast by analysts polled by FactSet of $3.08.
JPMorgan’s revenue totaled US$ 34.55 billion in the fourth quarter, compared to US$ 29.26 billion in the same period of the previous year.
The result was also above FactSet’s projection of US$ 34.35 billion.
Despite the strong results, the CEO of JPMorgan, Jamie Dimon, issued a warning about challenges to the US economy, which ended up weighing on the bank’s action in pre-market business. At 9:17 am (Brasília time), the paper fell 2.14%.
“The US economy remains strong, with consumers still spending extra resources and businesses healthy. However, we still do not know the ultimate effect of obstacles linked to geopolitical tensions, including the war in Ukraine, the vulnerable situation of energy and food supplies, the persistent inflation that erodes purchasing power and has driven up interest rates, and the unprecedented quantitative tightening,” said Dimon, in a statement accompanying the balance sheet.
Source: CNN Brasil
A journalist with over 7 years of experience in the news industry, currently working at World Stock Market as an author for the Entertainment section and also contributing to the Economics or finance section on a part-time basis. Has a passion for Entertainment and fashion topics, and has put in a lot of research and effort to provide accurate information to readers.
