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Mixed results as top banks kick off earnings season
Business Standard
|July 13, 2024
JPMorgan reported record profit as investment bankers and equities traders at the biggest US bank beat expectations and the firm took a multibillion-dollar gain tied to a Visa share exchange.
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Fees from investment banking soared past analysts' estimates, jumping 50 per cent. JPMorgan earned $18.1 billion in net income in the second quarter, up 25 per cent from the previous record a year earlier and ahead of analysts' expectations.
Citigroup said costs for the year are now likely to be at the high end of the range it previously provided after the bank faced a series of regulatory penalties in recent months.
Denne historien er fra July 13, 2024-utgaven av Business Standard.
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