JPMorgan Chase is set to report third-quarter earnings – here’s what the Street expects

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  • Here’s what Wall Street expects: Earnings: $3 per share, up 2.6% from a year ago, according to Refinitiv.
  • Revenue: $29.8 billion, down 0.6% from a year ago.
  • Net Interest Income: StreetAccount . According to the report, $12.98 billion

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JPMorgan Chase is scheduled to report third-quarter earnings before the opening bell on Wednesday

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Here’s what Wall Street expects:

  • Earnings: $3 per share, up 2.6% from a year ago, according to Refinitiv
  • Revenue: $29.8 billion, down 0.6% from a year ago
  • Net interest income: $12.98 billion on a reported basis, according to StreetAccount.
  • Trading revenue: fixed income $3.73 billion, equity $2.16 billion
  • Investment banking fees: $2.75 billion

JPMorgan Chase, the first major bank to report third-quarter earnings, will be watching closely for signs of an inflection point in the industry’s weak credit growth.

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Consumers and businesses have been flush with cash this year because of government stimulus efforts, paying off credit card balances and taking on less commercial debt. This prompted CEO Jamie Dimon to call loan demand “challenging” in April.

Another area of ​​interest will be the Wall Street trading and advisory division of the firm. For most of the pandemic, booming trading, IPO issuance and mergers have led to strong charges for JPMorgan’s investment bank.

It is expected to moderate in the third quarter. Last month, JPMorgan executive Marianne Lake said trading revenue would 10% less Compared to a year ago, that was an unusually strong quarter.

Dimon will be asked about the bank’s acquisition strategy after a string of recent deals. Last month, the bank acquired infatuation and college-planning platform Frank’s restaurant review service. This was followed by three acquisitions of fintech start-ups in the past one year.

Shares of JPMorgan are up 31% this year, trailing the 38% rise in the KBW Bank index.

This story is developing. Please check back for updates.

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