New York(CNN) JPMorgan Chase (JPM) on Friday reported first-quarter revenue and income that roundly beat expectations, as tumult within the monetary sector final month continues to gas recession fears.
The New York-based financial institution posted a revenue of $12.6 billion or $4.10 per share. That is up from $8.3 billion, or $2.63 per share from the identical interval a 12 months earlier than. Analysts anticipated earnings of $3.41 per share, in line with Refinitiv.
The corporate is the biggest financial institution in america, with $3.67 trillion in belongings, making it a bellwether for the US economic system.
“The US economic system continues to be on typically wholesome footings — customers are nonetheless spending and have sturdy steadiness sheets, and companies are in fine condition. Nonetheless, the storm clouds that we’ve got been monitoring for the previous 12 months stay on the horizon,” CEO Jamie Dimon stated in a press launch.
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