JP Morgan reports Q1 earnings this morning. Revenue was $42.55B vs. $41.85B expected. Adjusted EPS was $4.44 vs. $4.11 expected. It was a strong quarter but NII (net interest income) declined 4% from the previous quarter. The company said the decline is due to deposit margin compression and lower deposit balances, which is expected due to the new rate environment.
4/12/2024: JP Morgan Net Interest Income Falls
4/12/2024: JP Morgan Net Interest Income…
4/12/2024: JP Morgan Net Interest Income Falls
JP Morgan reports Q1 earnings this morning. Revenue was $42.55B vs. $41.85B expected. Adjusted EPS was $4.44 vs. $4.11 expected. It was a strong quarter but NII (net interest income) declined 4% from the previous quarter. The company said the decline is due to deposit margin compression and lower deposit balances, which is expected due to the new rate environment.