Ed MOTHEREFFING G
Chances make champions
https://www.cnbc.com/2022/04/13/jpm-earnings-1q-2022.html
Profit fell 42% from a year earlier to $8.28 billion, or $2.63 a share, the New York-based bank said. Adjusted earnings of $2.76, which excludes the 13-cent impact tied to Russia, exceeded the $2.69 estimate of analysts surveyed by Refinitiv.
Revenue dropped a more modest 5% to $31.59 billion, exceeding analysts' estimate for the quarter, helped by better-than-expected trading results.
...
JPMorgan said last month that it was unwinding its Russia operations. Dimon said in his annual shareholder letter that while management isn’t worried about its Russia exposure, it could “still lose about $1 billion over time.”
During a call Wednesday with reporters, CFO Jeremy Barnum said there was roughly $600 million in Russia exposure remaining after taking the quarter’s hit.
Shares of JPMorgan have dropped 16.9% this year before Wednesday, worse than the 10.6% decline of the KBW Bank Index.
.damn...
It's almost like their most talented employees in the investment and commercial bank saw this coming ...and quit preemptively with their vested stock...
Profit fell 42% from a year earlier to $8.28 billion, or $2.63 a share, the New York-based bank said. Adjusted earnings of $2.76, which excludes the 13-cent impact tied to Russia, exceeded the $2.69 estimate of analysts surveyed by Refinitiv.
Revenue dropped a more modest 5% to $31.59 billion, exceeding analysts' estimate for the quarter, helped by better-than-expected trading results.
...
JPMorgan said last month that it was unwinding its Russia operations. Dimon said in his annual shareholder letter that while management isn’t worried about its Russia exposure, it could “still lose about $1 billion over time.”
During a call Wednesday with reporters, CFO Jeremy Barnum said there was roughly $600 million in Russia exposure remaining after taking the quarter’s hit.
Shares of JPMorgan have dropped 16.9% this year before Wednesday, worse than the 10.6% decline of the KBW Bank Index.
.damn...
It's almost like their most talented employees in the investment and commercial bank saw this coming ...and quit preemptively with their vested stock...
