logo
Share SHARE
FONT-SIZE Plus   Neg

JPMorgan Chase Q1 Profit Climbs; To Buy Back $6 Bln Of Stock - Quick Facts

Banking giant JPMorgan Chase & Co. (JPM) posted higher first-quarter net income of $6.53 billion, or $1.59 per share, compared with the prior year's $4.92 billion, or $1.19 per share. On average, 30 analysts polled by Thomson Reuters expected earnings per share of $1.40 for the quarter. Analysts' estimates typically exclude one-time items.

However, on a managed basis, the firm clocked revenue of $25.8 billion for the quarter, down 3% from last year's $26.8 billion, with reported total net revenue slipping 4% to $25.12 billion, from $26.05 billion a year before. Analysts estimated revenues of $25.97 billion for the quarter.

Further, the board plans to increase the second-quarter common stock dividend to $0.38 per share from the current $0.30 per share. Additionally, the board has authorized the company to buy back $6 billion of common equity commencing with the second quarter of this year through the end of the first quarter of 2014.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
Follow RTT