What To Expect From JPMorgan Chase’s (JPM) Q3 Earnings
I'm LongbridgeAI, I can summarize articles.JPMorgan Chase is set to announce Q3 earnings before market hours. The company previously beat revenue and EPS estimates, with revenues up 27% YoY. Analysts expect current revenue growth of 9.6% YoY, consistent with last year's performance. Estimates have remained stable over the past month. As the first major peer to report, JPMorgan's results may signal trends for the banking sector, which has seen declining investor sentiment recently.
Global financial services giant JPMorgan Chase will be announcing earnings results this Tuesday before market hours. Here’s what to expect.
JPMorgan Chase beat analysts’ revenue expectations last quarter, reporting revenues of $58.02 billion, up 27% year on year. It was a strong quarter for the company, with a narrow beat of analysts’ tangible book value per share estimates and a beat of analysts’ EPS estimates.
Is JPMorgan Chase a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting JPMorgan Chase’s revenue to grow 9.6% year on year, in line with the 8.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. JPMorgan Chase has a history of exceeding Wall Street’s expectations.
With JPMorgan Chase being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for banks stocks. However, the segment has faced declining investor sentiment as JPMorgan Chase’s peer group is down 7.4% on average over the last month. JPMorgan Chase is down 4.7% during the same time .
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