Summary by Moomoo AI
On April 12, 2024, JPMorgan Chase & Co. reported its first-quarter financial results for the year, announcing a net income of $13.4 billion, or $4.44 per share. This represents an increase from the first quarter of 2023, where the net income was $12.6 billion, or $4.10 per share. The report included a $725 million increase to the FDIC special assessment, which, when excluded, would bring the net income to $14.0 billion, or $4.63 per share. The firm's revenue was reported at $41.9 billion, with managed revenue at $42.5 billion. Expenses for the quarter were $22.8 billion, including the aforementioned FDIC special assessment. JPMorgan Chase highlighted several key financial metrics, such as a Common Equity Tier 1 (CET1) capital ratio of 15.0% and a Return on Tangible Common Equity (ROTCE) of 21%. Chairman and CEO Jamie Dimon...Show More