📊 JPMorgan Chase & Co: Strong Q3 2024 with positive outlook!🏦

America's largest bank JPMorgan Chase & Co $JPM surprised the market again with its excellent third quarter results. The shares of this financial institution are reacting to the news by rising, which is not surprising given the results achieved and the optimistic outlook for the rest of the year.

Revenues grew year-on-year by 7 % to USD 42.654 billion, beating analysts' estimates of USD 41.649 billion. Net profit, although down slightly year-on-year by 2 % to $12.90 billion, the bank still beat earnings per share estimates of $4.37 (versus the expected $4.00).

🔑 Key points from the report:

Investment banking revenue rose by 29 % to $2.4 billion. The significant increase was driven by higher fees across all investment banking products.

Assets under management (AUM) reached USD 3.9 trillion, while client assets grew by 23 % to USD 5.7 trillion. This is a sign of strong growth and client confidence in the bank's asset management.

Earnings from Asset & Wealth Management (AWM) grew by 9 % to US$5.4 billion, reflecting continued interest in asset management investments.

Bank JPMorgan raised its outlook for net interest income for the full year 2024 at USD 92.5 billion (excluding Markets), up from previous expectations USD 91 billion.

💸 JPMorgan continues to reward shareholders in addition to its excellent results. The bank announced a share buyback of USD 6 billion and a dividend per share 1.25 USD. This, combined with solid performance, is great news.

In his report, Jamie Dimon, Chairman and CEO, warned of geopolitical risks and reiterated the need for a robust balance sheet in these uncertain times: "We have an exceptionally strong balance sheet, with an overall capacity to absorb losses of USD 544 billion and cash and marketable securities of $1.5 trillion." 🔥

📉 Although net income is down year-over-year, JPMorgan is showing overall stability in key segments, which is crucial at this time. At the same time, the bank remains cautious about share buybacks, which it is keeping in "moderate pace" with the possibility of adjustments based on current market conditions.

🌍 Geopolitical and Economic Risks: Dimon also commented on the current global situation, mentioning that geopolitical conditions are tricky and getting steadily worse. Inflation may be slowing, but he mentioned among the lingering challenges "large fiscal deficits, infrastructure needs, trade restructuring and the remilitarisation of the world".

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