NVDA
NVIDIA
-- 147.070 TSLA
Tesla
-- 415.110 ORCL
Oracle
-- 184.220 TEM
Tempus AI
-- 50.450 NFLX
Netflix
-- 953.990 
Key Takeaways from JPMorgan's Earnings: Net Interest Income Hits Record High
$JPMorgan (JPM.US)$ achieved unprecedented profit levels, despite experiencing a downturn in the last quarter due to a one-time hit of roughly $3 billion to pay for a special assessment charged by the Federal Deposit Insurance Corporation.
The company announced on Friday that it had generated a historic $49.6 billion in net income over the year, setting a new record for the American banking sector. This milestone was reached amidst one of the most tumultuous years for the industry since the 2008 financial crisis. This impressive performance, which was 31% higher than its 2022 profits, was propelled by improved loan margins and the strategic acquisition of the faltering regional bank First Republic.
JPMorgan's annual net income outpaced that of $Bank of America (BAC.US)$ by $23 billion, $Wells Fargo & Co (WFC.US)$ by $30 billion, and $Citigroup (C.US)$ by $40 billion. Following the news, JPMorgan's stock, which had recently hit a record high, saw an increase of over 2% in pre-market trading. In contrast, shares of both Bank of America and Wells Fargo experienced declines.
Key charts:
JP Morgan Chase's net interest income hit a record high even though deposit levels haven’t returned to 2021 levels. It shows that the impact of interest rate hikes on banks seems to be positive at this stage.
Non-performing loans reversed their upward trend and fell in the 4th quarter.
For prudent purposes, JPMorgan slightly increases loan loss provisions.
However, investment banking and Sales & Trading income is still far from rebounding.
In general, JPM's performance shows that the asset quality of the US citizens has not deteriorated, due to the positive impact of residents' increased income and asset appreciation.
Relative article:
Source: Yahoo Finance
By Moomoo US Calvin
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Investing with moomoo
Moomoo Official Account
Let’s learn how to trade with moomoo!
Check out my tutorial.
48K
Followers
141
Following
21K
Visitors
Follow
Discussing
Trump 2.0 Era: What's the next opportunity in the markets?
▪️Could Trump's crypto policies potentially benefit the crypto market? ▪️Might his tariff policies have a positive effect on Chinese stocks
Michael McCarthy CCO
Jan 3 11:57
Ask a strategist - Trump's first day
UnfadeabLeOne11 : They ain’t finna get me I’ll shut that down real quick messin w me who they think I am some punk that won’t stand for myself don’t get me messed up actually don’t get messed up tryna messed w me
UnfadeabLeOne11 : I’m tired of these punks broke banks tryna team up n take my funds u ain’t taking ish the only company I dismiss was Tesla for how ish went down but like Fidelity I didn’t forget about yo fraudulent company as well I’ll shut every fraudulent company down hard working people don’t deserve that crap..!! That’s the truth so u better take that developer mode otherwise y’all finna b crying when ur ish gets closed out for good f’n w me
UnfadeabLeOne11 : Broke ashy ash company’s hanging by a thread
UnfadeabLeOne11 : Thank God my phone was being watched due to someone tryna frame me so it all worked out![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")