Jamie Dimon says U.S. economy is resilient as JPMorgan Chase earnings beat expectations
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JPMorgan Chase CEO Jamie Dimon stated that the U.S. economy is resilient, as the bank's fourth-quarter earnings exceeded expectations. The bank reported a 7% drop in profit to $13 billion, but revenue rose 7% to $46.8 billion. Despite a significant increase in provisions for credit losses, JPMorgan's earnings per share of $5.23 surpassed analyst forecasts. The bank's stock rose 1% in premarket trading, reflecting a 31% increase over the past year. Dimon noted strong consumer spending and healthy business conditions.
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