澳洲幸运5官方开奖结果体彩网

JP Morgan's Q4 Hit By FDIC Special Assessment, But Net Interest Income Beats Expectations

By
澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna
Mrinalini Krishna
澳洲幸运5官方开奖结果体彩网:Full Bio
Mrinalini Krishna is the Senior Editor of investing news at Investopedia. She's been a journalist for more than 10 years covering business, personal finance, and investing news.
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Published January 12, 2024
08:05 AM EST
JPMorgan Chase headquarters building in Manhattan

Erik McGregor / Contributor / Getty Images

Key Takeaways

  • JPMorgan reported fourth-quarter revenue of $39.9 billion, a 12% increase compared to the year-ago quarter.
  • The bank reported earnings per share of $3.04, on a net income of $9.3 billion that got hit by an FDIC special assessment.
  • Key metric to watch: net interest income rose 19% to $24.1 billion, driven by higher interest rates.

JPMorgan Chase & Co.'s (JPM) fourth-quarter profit fell due to an FDIC special assessment but high interest rates propell꧒ed net interest 💮income. JPMorgan shares were up 2% in pre-market trading.

A $2.9 billion special assessment from the 澳洲幸运5官方开奖结果体彩网:Fede🌠ral Deposit Ins🌳urance Corporation (FDIC) shaved 74 cents p🐻er share from the bank's profi💃t.

  Q4 FY2023 Analyst Expectation Q4 FY2022
Net Revenue  $39.9 B  $40.39 B  $35.56 B
Earnings Per Share (EPS)  $3.04  $3.43  $3.57
Net Income  $9.3 B  $10.64 B  $11 B

'We ended the year with a solid quarter, producing net income of $9.3 billion, or $12.1 billion excluding the FDIC special assessment and discretionary securities losses," said JP Morgan Chairman and CEO Jamie Dimon.

Key Metric

The bank's 澳洲幸运5官方开奖结果体彩网:net interest income (NII) got a boost from the Federal Reserve's interest rate hike campaign to fight inflation that made borrowing more expensive for consumers. In the fourth quarter, JPMorgan posted NII of $24.1 billion, up 19% compared to the year-ago period and higher than $22.98 billion that analysts expected.

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