5 Stocks in The Limelight After Announcing Their Financial Results

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

Number of Hedge Fund Holders: 101

Shares of JPMorgan Chase & Co. (NYSE:JPM) turned red on Friday, January 14, 2022, after its fourth-quarter profit fell on a year-over-year basis. The New York-based financial services company reported earnings of $3.33 per share, compared to $3.79 per share in the same period last year.

Revenue inched up one percent versus the year-ago quarter to $30.3 billion. Analysts were expecting JPMorgan Chase & Co. (NYSE:JPM) to post earnings of $3.01 per share on revenue of $29.78 billion.

If we look at the performance of key units of JPMorgan Chase & Co. (NYSE:JPM), revenue from the Consumer & Community Banking (CCB) decreased four percent on a year-over-year basis to $12.3 billion.

In comparison, Corporate & Investment Bank (CIB) revenue rose two percent to $11.5 billion, Commercial Banking (CB) revenue increased six percent to $2.6 billion, and Asset & Wealth Management (AWM) revenue jumped 16 percent to $4.5 billion.

Discussing the results, CEO of JPMorgan Chase & Co. (NYSE:JPM), Jamie Dimon, said:

“JPMorgan Chase reported solid results across our businesses benefiting from elevated capital markets activity and a pick up in lending activity as firmwide average loans were up 6%. The economy continues to do quite well despite headwinds related to the Omicron variant, inflation and supply chain bottlenecks.”

You can also take a peek at 10 Tech Stocks to Buy According to Select Equity Group and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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