Source: Unsplash | Photographer: Razvan Chisu
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On Tuesday (14.07), the bank reported a quarterly performance that took Wall Street analysts by surprise. According to the report, during its second fiscal quarter of 2020 JPMorgan managed to generate $33 billion in revenue (versus $30.3 billion expected) and $1.38 per share (versus $1.04 expected) in large part thanks to its record trading revenue figures.
According to the company, it’s trading revenue surged by 79% to a record $9.7 billion due to mounting volatility and the Federal Reserve’s unorthodox strategy to support the credit markets. Shares of the New York-based lender rose with 0.6% shortly after the news after initially jumping by 4% during premarket hours.
“Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy. However, we are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm.”
Jamie Dimon, CEO of JPMorgan
As part of its preparation plan against the further effects of COVID-19 on the global economy, the bank has already set aside $8.9 billion whose sole purpose is to deal with a potential rise of bad loans in the near future when government stimulus packages start to run dry.
Here is other key data mentioned in the report:
– Bond traders posted revenue of $7.3 billion, or a 120% year-over-year increase
– Equities traders posted revenue of $2.4 billion vs. the $2.07 billion expected
– The retail banking division of JPMorgan posted a $176 million loss due to the bank’s aforementioned move to stockpile $8.9 billion to combat future bad loans
Upcoming reports
See the full list of upcoming earnings reports for 20 – 24 July in the tables below.
Monday, 20 July 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | GNC Holdings Inc | Second quarter of 2020 |
| USA | Halliburton Co | Second quarter of 2020 |
| USA | International Business Machines Corp | Second quarter of 2020 |
| Kingdom of the Netherlands | Koninklijke Philips NV | Second quarter of 2020 |
Tuesday, 21 July 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Cadence Design Systems Inc | Second quarter of 2020 |
| Canada | Canadian National Railway Co | Second quarter of 2020 |
| USA | Capital One Financial Corp | Second quarter of 2020 |
| USA | Coca-Cola Co | Second quarter of 2020 |
| USA | FirstEnergy Corp | Second quarter of 2020 |
| USA | Harley-Davidson Inc | Second quarter of 2020 |
| USA | Interactive Brokers Group Inc | Second quarter of 2020 |
| USA | Intuitive Surgical Inc | Second quarter of 2020 |
| USA | iRobot Corp | Second quarter of 2020 |
| USA | Lockheed Martin Corp | Second quarter of 2020 |
| Switzerland | Novartis AG | Second quarter of 2020 |
| USA | Paccar Inc | Second quarter of 2020 |
| USA | Philip Morris International Inc | Second quarter of 2020 |
| Kingdom of the Netherlands | Randstad NV | Second quarter of 2020 |
| USA | Snap Inc | Second quarter of 2020 |
| USA | Texas Instruments Inc | Second quarter of 2020 |
| Switzerland | UBS Group AG | Second quarter of 2020 |
| USA | United Airlines Holdings Inc | Second quarter of 2020 |
Wednesday, 22 July 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Alexion Pharmaceuticals Inc | Second quarter of 2020 |
| USA | Biogen Inc | Second quarter of 2020 |
| Sweden | Boliden AB | Second quarter of 2020 |
| USA | Brinks Co | Second quarter of 2020 |
| Canada | Celestica Inc | Second quarter of 2020 |
| USA | Cerner Corp | Second quarter of 2020 |
| Israel | Check Point Software Technologies Ltd | Second quarter of 2020 |
| USA | Chipotle Mexican Grill Inc | Second quarter of 2020 |
| USA | Citrix Systems Inc | Second quarter of 2020 |
| USA | CSX Corp | Second quarter of 2020 |
| USA | IQVIA Holdings Inc | Second quarter of 2020 |
| USA | KeyCorp | Second quarter of 2020 |
| USA | Las Vegas Sands Corp | Second quarter of 2020 |
| Norway | Norsk Hydro ASA | Second quarter of 2020 |
| USA | SLM Corp | Second quarter of 2020 |
| Germany | Software AG | Second quarter of 2020 |
| USA | Tesla Inc | Second quarter of 2020 |
| USA | Whirlpool Corp | Second quarter of 2020 |
| USA | Microsoft Corp | Fourth quarter of 2020 |
Thursday, 23 July 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Amazon.com Inc | Second quarter of 2020 |
| USA | American Airlines Group Inc | Second quarter of 2020 |
| USA | American Electric Power Company Inc | Second quarter of 2020 |
| USA | AT&T Inc | Second quarter of 2020 |
| USA | Blackstone Group Inc | Second quarter of 2020 |
| Germany | Daimler AG | Second quarter of 2020 |
| USA | Entegris Inc | Second quarter of 2020 |
| USA | Expedia Group Inc | Second quarter of 2020 |
| USA | Fifth Third Bancorp | Second quarter of 2020 |
| USA | Fiserv Inc | Second quarter of 2020 |
| USA | Freeport-McMoRan Inc | Second quarter of 2020 |
| USA | Intel Corp | Second quarter of 2020 |
| USA | Kimberly-Clark Corp | Second quarter of 2020 |
| USA | Mattel Inc | Second quarter of 2020 |
| USA | Nucor Corp | Second quarter of 2020 |
| USA | Patterson-UTI Energy Inc | Second quarter of 2020 |
| Norway | PGS ASA | Second quarter of 2020 |
| Spain | Repsol SA | Second quarter of 2020 |
| USA | Royal Caribbean Cruises Ltd | Second quarter of 2020 |
| Switzerland | STMicroelectronics NV | Second quarter of 2020 |
| Norway | TGS NOPEC Geophysical Company ASA | Second quarter of 2020 |
| USA | Travelers Companies Inc | Second quarter of 2020 |
| USA | Twitter Inc | Second quarter of 2020 |
| USA | Union Pacific Corp | Second quarter of 2020 |
| USA | Verisign Inc | Second quarter of 2020 |
| USA | Cintas Corp | Fourth quarter of 2020 |
Friday, 24 July 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | American Express Co | Second quarter of 2020 |
| USA | Honeywell International Inc | Second quarter of 2020 |
| USA | Illinois Tool Works Inc | Second quarter of 2020 |
| USA | Schlumberger NV | Second quarter of 2020 |
| USA | Verizon Communications Inc | Second quarter of 2020 |
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