JPMorgan Chase will report fourth quarter results – here’s what the Street expects

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Jamie Dimon, CEO of JPMorgan Chase, testifies at the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, at Hart Building on Thursday, September 22, 2022.

Tom Williams | CQ Roll Call, Inc. | Getty Images

JPMorgan Chase is scheduled to report fourth-quarter results before the opening bell Friday.

Here’s what Wall Street expects:

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  • Earnings: $3.07 per share, down 7.9% year-over-year, according to Refinitiv.
  • Revenue: $34.3 billion, 13% higher than a year ago.
  • Loan loss provision $1.96 billion, according to StreetAccount
  • Trading income: fixed income $3.76 billion, equities $1.92 billion
  • Investment banking income: $1.57 billion

JPMorgan, the largest US bank by assets, will be closely watched for clues to how the industry is navigating an economy at a crossroads.

Analysts expect a mixed bag of conflicting trends from banks. Higher rates will help lenders earn more interest income, but part of that boost will be offset by larger provisions for expected loan losses as the economy slows.

Wall Street probably won’t come to the rescue. Investment banking revenues are expected to fall 50% due to frozen IPO markets and subdued deals, Barclays analyst Jason Goldberg said in a Jan. 11 note.

That will be partially offset by a 10% increase in trading income, thanks to a boost from fixed income activity, he wrote.

Perhaps more interesting is what JPMorgan CEO Jamie Dimon says about the economy. The veteran CEO shocked markets last year when he said an economic “hurricane” caused by the Federal Reserve was heading towards the US.

Shares of JPMorgan are up 4% this year compared to the KBW Bank Index’s 6% gain.

The other major retail banks including bank of America, Wells Fargo and Citi groupare also scheduled to release results Friday while Goldman Sachs and Morgan Stanley report Tuesday.

This story is evolving. Check back later for updates.



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