JPMorgan Earnings Miss, Revenue Beats In Q1
2022.04.13 14:16
JPMorgan Earnings Miss, Revenue Beats In Q1
Investing.com – JPMorgan (NYSE:JPM) said its first-quarter earnings fell 42% on the year in the first quarter, as rising inflation, a fresh wave of Covid-19 and Russia’s invasion of Ukraine all combined to make a difficult comparison with the extraordinary gains of a year earlier.
Earnings per share fell some 3% short of expectations at $2.63, while revenue was broadly in line with expectations at $30.72 billion, down 7% from a year earlier.
However, the bank softened any disappointment by approving a new buyback program of $30 billion.
JPMorgan stock is down 16% from the beginning of the year, still down 24% from its 52-week high of $172.96 set on October 25, 2021. It is underperforming the S&P 500, which is down 7.7% from the start of the year.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
