JP Morgan Q1'23 - Beating Expectations

Fortunately, all looks good for the US largest banks by total assets.

Here are some important points on JP Morgan's earnings.

Adjusted earnings: $4.32 per share vs. $3.41 per share Refinitiv estimate

Revenue: $39.34 billion, vs. $36.19 billion per share Refinitiv estimate

Revenue rose 25% to USD 39.34 billion, mostly catalyzed by a whopping 49% rise in net interest income to $20.8 billion, thanks to the Federal Reserve’s most aggressive rate-hiking campaign in decades.

High-interest rates might have pushed up the net interest income, but it has also reduced total deposits as customers seek higher yields in places like money market funds.

All 3 segments, Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), and Commercial Banking (CB) all experienced a drop in overall average

Due to plenty of uncertainty, the upcoming 3 remaining quarters of FY 2023 might not be able to emulate the achievements in Q1'23. The pace of quantitative tightening and the Feds Funds rate, are still uncertain as the US grapples with taming down its inflation.

Do you think JP Morgan is investable at current prices?

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