JPMorgan Chase & Co. JPM
Financials – Diversified Financial Services|July 13th BMO
JPMorgan Chase & Co. is set to release their FQ2’18 earnings Friday before the market opens. Estimize consensus projects an EPS of $2.28, a 31% YoY growth, while Wall Street predicts an EPS of $2.24. Estimize is more accurate than Wall Street on JPM EPS predictions 67% of the time. We anticipate a revenue of $27.821B, while Wall Street expects JPM to report $27.664B in revenue.
JP Morgan will gain $4B in annual profits as a result of the U.S. corporate tax break that reduces their taxes from 35% to 21%. They plan to use this money to raise employee salaries, open 400 new branches, and increase lending to small businesses. The company also plans to buy back up to $20.7B in stock. The bank has increased its dividend from 56 to 80 cents. Lastly, the company has launched Finn, a user-friendly mobile application for managing personal finances marketed towards millennials.
