JPMorgan: Q2 net income up 15%

(CercleFinance.com) - JPMorgan Chase reports net income that is up 15% to $14.
4bn for Q2 2023, or $4.75 per share (+16% y-o-y), despite a 27% increase in credit loss provisions to $2.9bn.

JP Morgan's revenues rose by 8% to $41.3bn, with an ROTCE of 23% after excluding a net after-tax gain of $1.8bn linked to First Republic.

Management said the US economy was "resilient" even though consumer spending had slowed. The labor market has weakened somewhat, but job growth remains strong, he adds.


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