5 Key Quarterly Reports from The Financial Sector

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1. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 110

Shares of JPMorgan Chase & Co. (NYSE:JPM) hit a new 52-week low of $106.06 on Thursday, July 14, 2022, after announcing weak profit and sales for the second quarter. The financial services giant earned $2.76 per share, down from $3.78 per share in the year-ago period.

In addition, JPMorgan Chase & Co. (NYSE:JPM) posted revenue of $31.6 billion, up 1 percent from the comparable quarter of 2021. The results missed the consensus of $2.91 per share for earnings and $31.95 billion for revenue.

JPMorgan Chase & Co. (NYSE:JPM) also disclosed its segment-wise sales results. Revenue from the consumer & community banking division slipped 1 percent to $12.6 billion, while corporate & investment bank revenue fell 10 percent to $11.9 billion in the quarter. On the bright side, commercial banking revenue increased 8 percent to $2.7 billion, while asset & wealth management revenue rose 5 percent to $4.3 billion.

You can also take a peek at 10 Defensive Stocks in Billionaire Ray Dalio’s Latest Portfolio and Jim Cramer Recommends These 10 Stocks For Recession.

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