April 13, 2018 / 11:31 AM / 7 months ago

BRIEF-JPMorgan reports Q1 Net Income of $2.37 Per Share

April 13 (Reuters) - JPMorgan Chase & Co:

* QUARTER 2018 NET INCOME OF $8.7 BILLION, OR $2.37 PER SHARE

* Q1 2018 RESULTS INCLUDED $505 MILLION (PRETAX) MARK-TO-MARKET GAINS

* QUARTERLY REPORTED REVENUE OF $27.9 BILLION; MANAGED REVENUE OF $28.5 BILLION

* QUARTERLY BOOK VALUE PER SHARE OF $67.59, UP 4 PERCENT; TANGIBLE BOOK VALUE PER SHARE OF $54.05, UP 4 PERCENT

* QUARTERLY AVERAGE CORE LOANS EX-CIB, UP 8 PERCENT YOY AND 1 PERCENT QOQ

* JPMORGAN’S DIMON SAYS “2018 IS OFF TO A GOOD START WITH OUR BUSINESSES PERFORMING WELL ACROSS THE BOARD”

* AT QTR-END BASEL III COMMON EQUITY TIER 1 CAPITAL OF $184 BILLION AND RATIO OF 11.8 PERCENT

* QUARTERLY PROVISION FOR CREDIT LOSSES WAS $1.2 BILLION, DOWN FROM $1.3 BILLION IN THE PRIOR YEAR

* QUARTERLY ROTCE 19 PERCENT VERSUS 8 PERCENT REPORTED IN Q4

* JPMORGAN SAYS BEEN OUTPACING INDUSTRY ON CONSUMER DEPOSIT GROWTH WHILE ATTRACTING SIGNIFICANT NET NEW MONEY AND GROWING CLIENT INVESTMENT ASSETS

* QUARTERLY ADJUSTED EXPENSE OF $16.0 BILLION VERSUS $14.8 BILLION REPORTED IN Q4

* Q1 EARNINGS PER SHARE VIEW $2.28, REVENUE VIEW $27.68 BILLION — THOMSON REUTERS I/B/E/S

* JPMORGAN’S DIMON SAYS “COMMERCIAL BANKING CONTINUED TO SEE REVENUE GROWTH DRIVEN BY RATES AND GOOD CAPITAL MARKETS FLOWS” IN QUARTER

* Q1 2018 MARK-TO-MARKET GAINS RELATED TO ADOPTION OF NEW RECOGNITION AND MEASUREMENT ACCOUNTING GUIDANCE FOR CERTAIN EQUITY INVESTMENTS PREVIOUSLY HELD AT COST

* JPMORGAN’S DIMON SAYS “DESPITE CLIENT SENTIMENT REMAINING HIGH, THE ENVIRONMENT IS INTENSELY COMPETITIVE AND LENDING WAS FLAT FOR THE QUARTER”

* JPMORGAN’S DIMON SAYS “THE GLOBAL ECONOMY CONTINUES TO DO WELL”

* JPMORGAN’S DIMON SAYS “REMAIN OPTIMISTIC ABOUT THE POSITIVE IMPACT OF TAX REFORM IN THE U.S. AS BUSINESS SENTIMENT REMAINS UPBEAT”

* QUARTERLY ADJUSTED EXPENSE EXCLUDED FIRMWIDE LEGAL EXPENSE OF $70 MILLION

* JPMORGAN’S DIMON SAYS “WE’RE WORKING TO TACKLE BROADER ISSUES, LIKE HEALTHCARE, THAT CAN HELP THE WHOLE COUNTRY”

* QUARTERLY EQUITY MARKETS REVENUE WAS $2.0 BILLION, UP 25 PERCENT

* QUARTERLY FIXED INCOME MARKETS REVENUE REFLECTED STRONG PERFORMANCE IN CURRENCIES & EMERGING MARKETS AND COMMODITIES

* QUARTERLY FIXED INCOME MARKETS REVENUE GROWTH WAS OFFSET BY LOWER CLIENT ACTIVITY IN RATES AND CREDIT

* EXPECTS 2018 FULL-YEAR IMPACT TO BE ABOUT $1.2 BLN AS A RESULT OF ADOPTION OF SEVERAL NEW ACCOUNTING STANDARDS

* EXCLUDING CERTAIN ITEMS, QUARTERLY MARKETS REVENUE WAS UP 7% WITH STRONG GROWTH IN EQUITY MARKETS, AND FIXED INCOME MARKETS FLAT Source text: bit.ly/2HxtUqB Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below