Chase CEO Jamie Dimon looks on as he attends the seventh ‘Choose France Summit’, aimed at attracting foreign investors to the country, at the Chateau de Versailles, outside Paris, on May 13, 2024.
Lucovic Marin | Getty Images
JPMorgan Chase is expected to report third-quarter results before the opening bell Friday.
Here’s what Wall Street expects:
- Earnings: $4.01 per share, according to LSEG
- Revenue: $41.63 billion, according to LSEG
- Net interest income: $22.73 billion, according to StreetAccount
- Trading revenues: fixed income of $4.38 billion, equities of $2.41 billion, according to StreetAccount
JPMorgan will be closely watched for clues on how banks are faring at the start of the Federal Reserve’s easing cycle.
The largest US bank has thrived in an environment of rising rates, posting record net profit figures since the Fed began raising rates in 2022.
With the Fed cutting rates, questions arise about how JPMorgan will handle the change. As with other major banks, the bank’s margins could come under pressure as interest rates on interest-generating assets, such as loans, fall faster than financing costs.
Last month, JPMorgan cut expectations for net interest income and expense for 2025, and analysts will want more details on these projections.
Analysts will also be keen to hear JPMorgan CEO Jamie Dimon’s thoughts on the upcoming US election and the industry’s efforts to resist a series of regulatory measures to rein in fees and force banks to hold more capital.
JPMorgan shares are up 25% this year, surpassing the KBW Bank Index’s 20% gain.
Wells Fargo will announce results later Friday Bank of America, Goldman Sachs, Citi Group And Morgan Stanley report next week.
This story is developing. Check back later for updates.