JPMorgan beats, posts record breaking quarter

JPMorgan Chase just reported second quarter earnings, posting a big beat.

Here are the key numbers:

  • Net income of $US7 billion, or $US1.82 per share. Analysts had forecast EPS of $US1.58 per share, according to Bloomberg.
  • Reported revenue of $US25.5 billion, with net interest income at $US12.5 billion, up 8%, due to rising rates and loan growth.
  • The bank’s consumer and community banking unit posted lower profits. CCB net income was down 16% on the same period last year.
  • Corporate and investment bank net income increased 7% to $US2.7 billion. Global banking revenues increased 17% to $US3.1 billion, offsetting a 11% decline in markets and investor services revenues to $US5.8 billion.
  • Commercial banking delivered record revenues and profits, with revenue of $US2.1 billion and net income of $US902 million.
  • Asset and wealth management also delivered record profits, with net income of $US624 million in net income.