JPMorgan Chase: Q4 EPS down 15%

(CercleFinance.com) - JPMorgan Chase has reported net income that is down 15% at $9.
3bn for Q4 2023, or $3.04 per share, largely due to increasing provisions for credit losses to $2.76bn.

The New York-based bank's earnings contracted, despite a 12% increase in revenues to $39.9bn, boosted by the acquisition of First Republic, without which they rose by 7%, in particular thanks to higher interest rates.

Non-interest expenses rose by 29% (+24% excluding First Republic) to $24.5bn, in particular due to higher personnel costs as a result of wage inflation and increased headcount in front office and technology.


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