JPMorgan Chase Third Quarter Earnings – Expected .49 vs .11
Posted on | October 12, 2009 | 2 Comments
JPMorgan Chase will report third quarter earnings on Wednesday, October 14th. The financial firm is expecting 49 cents a share versus 11 cents a share for the same period last year. JPMorgan is also expected to see over a 68% increase in revenue for the three month period that ended in September. Analysts predict that this growth is expected to continue into the fourth quarter as well for both earnings and revenue.
JPMorgan Chase has beat “the Street” for the past five quarters and crushed estimates in the second quarter by beating analysts estimates bey 23 cents per share. The long term outlook for earnings is a growth rate of 12%. Over the past three months we have seen the JPMorgan Chase stock move up over 40%.
In the third quarter JPMorgan Chase announced management changes and declared a quarterly dividend. Bill Winters, who is often given the credit for helping JPMorgan steer clear of many financial pitfalls that competitors fell into will leave the company and with be replaced by Steve Black. From money.aol.com, “With the credit crisis largely behind us and the economy recovering, the timing was right to begin the succession process,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase. He added, “Steve and Jes will work closely together and complete a smooth transition at the end of 2010. Steve, Bill and the IB Management Team have built one of the strongest investment banks in the world, and I’m confident that together, Steve, Jes and the IB Management Team will continue to build on this success.”
With these management moves coupled with the recovering economy many investors feel that JPMorgan Chase is one of the better investments in the financial sector. JP Morgan currently holds the number one ranking among underwriters of stock and equity-linked securities for the year. One area of concern is the credit card industry. CEO Jamie Dimon has predicted that credit cards won’t be profitable this year or next. The earnings report for the financial giant should be very interesting, make sure to check back in with Subprime Blogger for the complete analysis.
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Author: Jesse Wojdylo
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2 Responses to “JPMorgan Chase Third Quarter Earnings – Expected .49 vs .11”
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October 12th, 2009 @ 5:43 pm
JP Morgan
$30 Billion for Bear Stearns
+
$25 Billion TARP loan
+
$4.22 billion Maiden Lane
=
$59.22 Billion Dollars
and you call JP Morgan a success? HAHA.
You can thank them for future inflation.
October 13th, 2009 @ 12:11 am
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