JPMorgan Chase Exceeds Expectations with Q2 EPS of $4.96 and Revenue of $45.7B.

JPMorgan Chase reported Q2 non-GAAP EPS of $4.96, beating estimates by $0.48. Revenue was $45.7B, exceeding expectations by $1.66B. The bank had a $774 million income tax benefit and credit costs of $2.8 billion.

JPMorgan Chase (NYSE: JPM) reported its second-quarter (Q2) results on Tuesday, with non-GAAP earnings per share (EPS) of $4.96, surpassing analyst expectations by $0.48. The company's revenue of $45.7 billion also exceeded forecasts by $1.66 billion. The bank attributed its strong performance to a $774 million income tax benefit and lower-than-expected credit costs of $2.8 billion [1].

JPMorgan Chase's adjusted earnings per share (EPS) of $4.96 beat the consensus estimate of $4.48. The company's revenue of $45.7 billion was a 9.7% year-over-year (YoY) increase, surpassing the expected $44.05 billion. The bank's tangible book value per share increased to $103.40, up 11% YoY, while its total assets under management (AUM) reached $4.3 trillion, up 18% YoY [1].

Analysts had mixed expectations for JPMorgan Chase's Q2 results. While some revised their estimates upwards, others remained cautious. The bank's share price has seen a 10.3% increase over the last month, with a 6.2% gain during the same period [2].

JPMorgan Chase's strategic financing solutions team within its investment bank aims to create new revenue streams. The bank is also expected to benefit from the positive investor sentiment in the financial services sector. However, analysts have mixed opinions about the company's prospects, with revenue estimates seeing upward and downward revisions in the last 30 days [2].

References:
[1] https://seekingalpha.com/news/4467388-jpmorgan-chase-non-gaap-eps-of-4_96-beats-by-0_48-revenue-of-45_7b-beats-by-1_66b
[2] https://finance.yahoo.com/news/jpmorgan-chase-jpm-report-earnings-030046778.html