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
Anglo-Dutch oil giant Royal Dutch Shell plans to cut 2,200 more jobs, as the company continues to face lower oil prices, media reported Wednesday citing an emailed statement. The latest round of cuts would bring the total job cuts this year to at least 5,000 globally. In the U.K. and Ireland, the company plans to reduce staff working in exploration and production by 475. Tiffany & Co. (TIF) reported first-quarter net earnings of $87 million, or $0.69 per share compared to $105 million, or $0.81 per share, in the prior year. The company noted that its first-quarter results included a tax benefit of $0.05 per share related to the settlement of a tax examination. On average,... Shares of Marks & Spencer Group plc were losing around 8 percent in the early morning trading in London, after the retailer reported lower profit in its fiscal 2016, hurt mainly by weak results at clothing & Home segment and lower UK LFL sales. Looking ahead, the company warned about profit, and said it sees a similar sales trend in fiscal 2017.
comments powered by Disqus
Follow RTT