JPMorgan Chase: Q1 results well below consensus

(CercleFinance.com) - JPMorgan Chase has published Q1 2020 net profit that is down 69% at 2.
86 billion dollars, or 78 cents per share, while the market was expecting EPS that is triple this level.

Revenues fell 3% to under 29.1 billion dollars, including a 5% drop in non-interest income, while provisions for credit losses jumped to nearly 8.3 billion dollars from 1.5 billion dollars a year ago.

The group has entered the crisis from a position of strength, and remains healthily capitalised and highly liquid - with a CET1 ratio of 11.5% and total liquidity resources of over 1,000 billion dollars, company chairman and CEO Jamie Dimon said.


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