Jamie Dimon India Russia county Chase Ukraine pandemic economy JPMorgan Jamie Dimon India Russia county Chase Ukraine

JPMorgan profit sinks 42% after a pandemic boom

Reading now: 584
www.livemint.com

Bank says it is prepared for higher credit losses related to economic challenges and its exposure to Russia JPMorgan Chase & Co.’s first-quarter profit dropped 42%, weighed down by lower Wall Street fees and higher expenses.

The nation’s biggest bank earned $8.28 billion, or $2.63 per share, compared with $14.3 billion, or $4.50 per share, a year ago.

Analysts had expected $2.72 per share, according to FactSet. Revenue fell 5% to $30.72 billion, ahead of analyst expectations for $30.59 billion.

Total expenses, which investors were watching closely, rose 2% to $19.19 billion in the quarter, roughly in line with expectations.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Cocaine found in coffee shipments sent to Nespresso facility - fox29.com - Usa - Switzerland - Brazil - Mexico
fox29.com
69%
554
Cocaine found in coffee shipments sent to Nespresso facility
Authorities seized more than 1,000 pounds of cocaine – valued at over $50 million – that was discovered in shipments of coffee bean bags delivered to a Nespresso plant in Switzerland. The cantonal police were called to the company's factory in Romont on Monday after employees discovered "an undetermined white substance while unloading bags of freshly delivered coffee beans."ILLICIT COVID-19 DRUGS BOUND FOR MEXICO SEIZED BY US AUTHORITIESPolice say the employees were unloading bags that had just arrived off of five shipping containers from Brazil. Officers immediately responded to the factory to analyze the powder, which turned out to be 80% pure cocaine. "The search of the five sea containers delivered on the day in question by train led to the discovery and seizure of more than 500 kg of this drug," police said. Nespresso employees in Switzerland discover cocaine while unloading coffee beans (Cantonal police) GET FOX BUSINESS ON THE GO BY CLICKING HEREThe market value of the drugs was estimated by police at more than 50 million Swiss francs, which is equivalent to $50.65 million. Police determined that the drug was likely intended for the European market. The drugs were isolated and "did not come into contact with any product used in production," according to police. CLICK HERE TO READ MORE ON FOX BUSINESSA Nespresso spokesperson told FOX Business that it reported the "suspicious substance" immediately and that the "substance in question did not come into contact with any of our products or production equipment used to make our products." The company declined to share more details while the investigation is ongoing.
DMCA