GoldenSnuff hat geschrieben:JPM etwas fürh dran...
*DJ JPMorgan Chase 1Q EPS 40c >JPM
*DJ JPMorgan Chase 1Q Net $2.14B >JPM
*DJ JPMorgan Chase:Washington Mutual Integration On Track
*DJ JPMorgan Chase Expects Increases In Credit Reserves If Economy Worsens
NEW YORK, April 16 (Reuters) - JPMorgan Chase & Co said on Thursday first-quarter profit fell, as the deepening recession and rising unemployment forced it to set aside more money against losses in its consumer banking business.
Net income fell to $2.14 billion, or 40 cents a share, from $2.37 billion, or 68 cents a share a year earlier, for the three months ended March 31, for the same period a year ago. Revenue increased 45 percent to $25 billion from $16.9 billion.
Analysts on average see the second-largest U.S. bank earning 30 cents a share, with forecasts ranging from 11 cents to 45 cents a share, according to Reuters Estimates.
It could not immediately be determined whether the 40 cents a share figure compared to analysts´ estimates.
While the bank has largely avoided the losses and writedowns on complex debt securities and subprime mortgages that hurt other banks in 2008, it is heavily exposed to consumer credit and Chief Executive Jamie Dimon has warned that rising unemployment will hurt the bank´s consumer businesses in 2009.
JPMorgan shares have outperformed the broader sector since the start of the year, up about 3 percent at $32.56 compared to a 20 percent decline in the KBW Bank Index. (Reporting by Elinor Comlay; Editing by Derek Caney)
