5 Stocks in the Limelight After Earnings Reports

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

Number of Hedge Fund Holders: 108

JPMorgan Chase & Co. (NYSE:JPM) recently announced better-than-expected financial results for the third quarter. The banking giant reported earnings of $3.74 per share, crushing the consensus forecast of $3 per share.

Revenue for the quarter came in at $30.44 billion, above the consensus forecast of $29.79 billion. JPMorgan Chase & Co. (NYSE:JPM) had reported earnings of $2.92 per share on revenue of $29.94 billion in the comparable period of 2020.

Average loans in the quarter rose 5 percent on a year-over-year basis, while average deposits jumped 19 percent. If we see the performance of key segments, JPMorgan Chase & Co. (NYSE:JPM)’s commercial banking revenue increased 10.3 percent to $2.52 billion, while consumer and community banking revenue slipped 2.9 percent to $12.52 billion. In comparison, revenue from the corporate and investment bank increased 7.4 percent to $12.4 billion.

Speaking on the results, CEO Jamie Dimon said in a statement:

“JPMorgan Chase delivered strong results as the economy continues to show good growth – despite the dampening effect of the Delta variant and supply chain disruptions. We released credit reserves of $2.1 billion, as the economic outlook continues to improve and our scenarios have improved accordingly.”

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