Of course, all else equal, you would assume that, that 12.5% to 13% for 2024 would be a little bit higher. I just wanted to get your thoughts there. That's consistent with the increase for the full year. And the reserve build for loan growth in card and the less than 2% loss rate in card lead us to believe that your consumer is still OK. As you think about the various scenarios and you think about the realistic range of outcomes, how does the U.S. consumer perform? The stock has fallen 29%. So I always remind myself the economy will be a lot bigger in 10 years. The next question is coming from Erika Najarian from UBS. We know that, and there are write-downs of a couple of bridge loans. The statistics that Jeremy laid out imply a pretty healthy starting point for the consumer that you bank. I mean, the market outlook is worse. And Betsy, maybe I'll just comment briefly on the black box point because as Jamie noted, the SCB is quite volatile, and I think you see that across the industry, and it's -- you have to -- we feel very good about building quickly enough to meet the higher requirements, but with pretty big changes that come into effect fairly quickly for banks, and I think that's probably not healthy. The next question is coming from Matt O'Connor from Deutsche Bank. Net interest margins were squeezed since the Federal Reserve lowered rates in 2020 to address the economic crisis caused by the COVID-19 pandemic. published July 11, 2022. I'm simply saying, there's a range of potential outcomes from a soft lending to a hard lending, driven by how much rates go up, the effective quantitative tightening, defective volatile markets. And mortgage origination volume of $22 billion was down 45%. Exactly. Doug Anmuth-- JPMorgan Chase and Company -- Analyst. We expect non-GAAP gross margins to be within the range . The following slide deck was published by JPMorgan Chase & Co. in conjunction with their 2022 Q2 earnings call. So it would be helpful to understand what you see as what the drivers were to that SCB increase. And jobs are plentiful. Obviously, this is all in an environment very volatile implied, but the core view of some upside from that fourth-quarter run rate into 2023 is still in place. Why Is He Important? The new 4% NCB will raise our standardized CET1 requirement to 12% effective in the fourth quarter, and the 4% G-SIB effective in 1Q '23 further raises this requirement to 12.5%. Q2 2023 Earnings Call Dec 07, 2022, 5:00 p.m. Betsy Graseck -- Morgan Stanley -- Analyst. And second, we've always told you that we use the portfolio and other things to manage the broad range of outcomes, not just to try to add NII. I think for COVID, it was around $14 billion ex CECL. And, Glenn, just remember that we did do that last quarter, right? Yes. Shares of the bank fell nearly 5% in trading Thursday, hitting a fresh 52-week low. I hear you on all that. The bank was hurt by a drop investment banking revenue. 9.6 or something is probably the right number for the full year at this point. For the fiscal year ending Dec 2022 , the consensus EPS* forecast has remained the same over the past week at 11.69 and increased over the past month from 11.67 to 11.69 (0.17%). The Federal Reserve System, commonly known as the Fed, is the central bank of the U.S., which regulates the U.S. monetary and financial system. The replay will be available via webcast on www.jpmorganchase.com under Investor Relations, Events & Presentations. So first point, you have to turn over your magnifying glass. There's no real risk in it, not a benefit to JPMorgan, but it hurts this country, and it's very unfortunate. Good morning, ladies and gentlemen. It will clearly be a lot less than that. Home lending revenue was down 26% year on year as the rate environment drove both lower production revenue and tighter spreads, partially offset by higher net servicing revenue. Yes, Jim. NII was $324 million, up $1.3 billion, predominantly due to the impact of higher rates. CET1 capital was slightly down as earnings were offset by distributions and the impact of AOCI drawdowns in our AFS portfolio. The next question is coming from Betsy Graseck from Morgan Stanley. The -- on duration, I think at this level of rates, also with very quickly cash yields being roughly not that different from 10-year yields. JPMorgan reported third quarter earnings on October 14th, 2022, and results beat expectations widely on both the top and bottom lines. On the one hand, unemployment levels remained low, meaning consumers and businesses had little difficulty repaying loans. Deposits were up 13% year on year and 2% quarter on quarter. In extremelylow interest rate environments, net interest margins get squeezed as banks lower rates charged to borrowers in order to remain competitive but are reluctant to push rates they pay to creditors below the lower zero bound. Hi. The main one is that while the growth in Revolve is basically still in place, our view that we would see normalization and Revolve balances happening toward early -- beginning of next year. Hey, guys. At the same time, we have yet to observe a pullback in discretionary spending, including in the lower income segments, with travel and dining growing a robust 34% year-on-year overall. We're going to serve more clients. So in terms of '23, we had talked at Investor Day about how we saw upside into 2023 from that fourth quarter run rate. The next question is coming from Matt O'Connor from Deutsche Bank. Better Buy: JPMorgan Chase or Morgan Stanley? Gross investment banking revenue of $788 million was down 32%, driven by lower debt and equity underwriting activity. The information could be out of date and no longer accurate. That's managing your exposures. For the quarter, net long-term inflows of $6 billion were driven by equities. As previously announced, JPMorgan Chase & Co. (NYSE: JPM) (JPMorgan Chase or the Firm) will host a conference call to review second-quarter 2022 financial results on Thursday, July 14, 2022 at 8:30 a.m. (EDT). They're spending money. Good morning, everyone. Before I review CCB's performance, let me touch on what we're seeing in our data regarding the health of the U.S. consumer. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. And we don't agree with the stress test. ", Earnings per share: $2.76 vs. $2.88 expected, Managed revenue: $31.63 billion vs. $31.95 billion expected. My Top Banking Stock to Buy and Hold Forever, 5 Companies to Buy Now That Higher Interest Rates Could Be Here to Stay, Despite Rough Year, JPMorgan Is Holding Up Surprisingly Well, Why JPMorgan Chase's Stock Is Rising After a Wall Street Upgrade, 1 Warren Buffett ETF I'm Stocking Up On Before the End of 2022. In Consumer and business banking, revenue was up 9% year on year, driven by growth in deposits. So for now, we're really focused on 1Q '23. It's a terrible way to run a financial system, and we owe you more on what we think that buffer should be because we have so much -- what I think is so much excess capital. Yes, Erika. And that was a good thing because a lot of people can lose a lot of money there, and we lost a little. Jamie, you mentioned just on the SCB earlier that you intended to reduce it by reducing the things that caused it to rise. Just a follow-up on the point about managing the balance sheet and capital and RWAs. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The financial services provider reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.96 by $0.16. Image source: The Motley Fool. And that more or less remains true. The first is on balance sheet management. View Earnings We stop starting on recruiting or training or technology or a branch, that's crazy. Please proceed. Rate hikes would help to increase JPMorgan's net interest margin. And I think you're right to break it down by the different segments because we are seeing different dynamics there. And I think the current level, but where is it, Michael? Nathan Reiff has been writing expert articles and news about financial topics such as investing and trading, cryptocurrency, ETFs, and alternative investments on Investopedia since 2016. We're going to invest in the things, and we'll manage through that. We didn't lose money in the great -- what just happened. At Investor Day, we said that we expected SCB to be higher and made it clear that in the near term, share buybacks would be significantly reduced in order to build capital for the increased requirements. ", Reuters. How families used the advanced Child Tax Credit. And my follow-up question is for Jamie. The bank said third-quarter profit . JPMorgan Chase's net interest margin came in above analysts' consensus estimates. And you do see those early delinquency buckets still below pre-pandemic levels, but getting closer in the lower income segment. And any further outlook for what the deposits could be over the next 12 months due to QT? Yes, Steve. . Thank you. You will recall that at Investor Day, we expected NII ex Markets for 2022 to be in excess of $56 billion. Spend is still healthy with combined debit and credit spend up 15% year on year. Making the world smarter, happier, and richer. Our percent of that bridge book has come down substantially just in the last 12 months. I mean, it's like you're acting like there's sunny skies ahead. JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (U.S.), with operations worldwide. Please proceed. JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. I think we feel comfortable with our risk appetite and our credit box. But at a high level, in your comments to what Jamie said before are right. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Contents: . But it would be more palatable if the bank lowered guidance on expenses, he added. 1. Credit adjustments and other was a loss of $218 million, largely driven by funding spread widening. Our job is to serve clients through thick or thin, good or bad with what they need, how they need it. Basically, five years is -- it kind of bleeds back in over five years. JPMorgan, the biggest U.S. bank by assets, is closely watched for clues on how the banking industry fared during a quarter marked by conflicting trends. This got bad effects for the economy because, I just said, we're going to drive down this and drive down. And so -- and plus, in a recession, certain things get cheaper, branches are enormously probable. And I need to drive capital up and down by 80 basis points. And I don't think we expect any particular change there. RWA was down approximately $44 billion with growth in franchise lending being more than offset by the combination of active balance sheet management and the normalization of market risk RWA from the first quarter. Yes. JPMorgan's quarterly EPS. "JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybacks. You noted that part of the SCB mitigation is to drive out nonoperating deposits. Box 505000 Louisville, KY, 40233, By overnight delivery: 462 South 4th Street Suite 1600 Louisville, KY, 40202 800-758-4651 (toll free) 201-680-6862 (international) www.computershare.com. $0.27. Just wanted to understand what the assumption was there as well, please? No. JPMorgan Chase Q3 2022 Earnings Report Recap, JPMorgan Q3 FY2022 Earnings Report Preview: What to Look For, Bank of America Q3 2022 Earnings Report Recap, JPMorgan Chase Q2 FY2022 Earnings Report Preview: What to Look For, JPMorgan Chase Q1 2022 Earnings Report Recap, Bank of America Q3 FY2022 Earnings Report Preview: What to Look For. Card revenue rate continues to slip even with the NII benefit. AUM of $2.7 trillion and overall client assets of $3.8 trillion, down 8% and 6% year on year, respectively, were predominantly driven by lower market levels, partially offset by net long-term inflows. We've never done that. Chairman and Chief Executive Officer (CEO) Jamie Dimon did cite geopolitical turmoil, inflation, declines in consumer confidence, quantitative tightening, and other factors as likely to have negative impacts on the overall global economy. Great question, John. And we don't have the no-securitization market today. Morgan Stanley also reported earnings Thursday and like JPMorgan, its results were shy of Wall Street's expectations. Jamie, we've heard your caution about the economy. OK. That's a fair point. OK. Great. And did you all consider a CECL reserve and increasing the probability to the poor scenario in this quarter? JPMorgan Chase & Co. "EARNINGS RELEASE FINANCIAL SUPPLEMENT: SECOND QUARTER 2022," Page 6. Definitive Guide to Growth Stocks; Stock News Menu Toggle. ET. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. We can't really control it. Please proceed. JPMorgan's next earnings report (for Q3 FY 2022) is expected to be released on Oct. 14, 2022. OK. And then separately, you've got about $14 billion of losses in OCI. They're doing fine. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, ladies and gentlemen. With that as a backdrop, this quarter, CCB reported net income of $3.1 billion on revenue of $12.6 billion, which was down 1% year on year. And then as a follow-up, I don't believe you guys disclosed the outstandings in the bridge book. Your line will be muted for the duration of . We're still open for business for the right deals at the right risk upside on the right term, absolutely, but we've been careful. Trading, Loans, Higher Rates to Aid JPMorgan (JPM) Q2 Earnings. Read more on "MotleyFool". So if you wanted to try to look for early warning signals, that's where you would see it. But there is another round of SCB, and that's a long way away. And so we feel in very good shape. The question of duration adding or not is just generally less important for us. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Mike, I think we gave you some examples at Investor Day, for example, AI, which we spend a lot of money on, we gave you a couple of examples, but one of them is we spent $100 million building certain risk and fraud systems so that when we process payments on the consumer side, losses are down $100 million to $200 million. They're spending 10% more than last year, almost 30% plus more than pre-COVID. That's what you see. Please stand by. Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period. For Q3 of 2022, JPM reported earnings of 3.120/share, with the earnings report taking place on 10/14/2022. But they're in very good shape. What's kind of some good rule of thumb in terms of how quickly that comes back if rates stabilize here? The next question is coming from John McDonald from Autonomous Research. That's very performance based too. It was just the second time JPMorgan missed on both profit and revenue since 2020. So we feel good about where we are. That was managing certain exposures. 7/14/2022 . So I mean, look, I think all of these things are true at the same time, right? Are you -- we don't really see it, but are you starting to see any initial cracks in credit or strains in the system? ", MarketScreener. Yes. I don't think it wants to stop doing that because there's a recession. Moving to card and auto. Welcome to JPMorgan Chase s Second Quarter 2022 Earnings Call. JPM JPMorgan Chase & Co Q2 2022 Earnings Call Jul 14, 2021 + Google Calendar + iCal Export Details Date: Jul 14, 2021 Time: 8:30 am - 9:30 am Other Ticker Details JPM Company Name JPMorgan Chase & Co Earnings Call Date 14-Jul-2021 Time (ET) 8:30 AM Fiscal Quarter Q2 Fiscal Year 2022 Live Webcast URL https://www.jpmorganchase.com/ir/events Dimon said the bank bolstered its customer base by extending credit and raising capital of $1.4 trillion in the first half of 2022 for businesses, governments and U.S. consumers. NIR ex Markets was down $3.6 billion or 26%, largely driven by lower IB fees and higher card acquisition costs, and markets revenue was up $1 billion or 15% year on year. The slowdown in Wall Street deals stung JPMorgan, which has one of the biggest operations on the Street. Back in April, JPMorgan was first among the banks to begin setting aside funds for loan losses, booking a $902 million charge for building credit reserves in the quarter. So we're quite careful about how we run the risk of the company. Right. Importantly, a key tail wind the industry enjoyed a year ago reserve releases as loans performed better than expected has begun to reverse as banks are forced to set aside money for potential defaults as the risk of recession rises. In addition, reductions in management fees linked to this year's market declines have been almost entirely offset by the removal of most money market fund fee waivers. And that's the current environment. And, Jamie, you've been very clear about this for the last 10 years, how you've derisked the balance sheet, and you mentioned that already today. That's what we're building for. This article is a transcript of this conference call produced for The Motley Fool. Let me state very simply for you. Shares of JPMorgan fell nearly 5% in trading Thursday, hitting a fresh 52-week low. So if you said add NII next quarter, yes, we could do that. First of all, it's public. But if you look at Footnote 5 on Page 3, you can see that right at the end of there, it assumes flat RWA in the projection. But can you guys elaborate what you saw in June? Our deposit outlook remains more or less the same that I said before and that we've talked about at Investor Day, which is we do expect to see some attrition in wholesale. This call is being recorded. It's not going to change how we run the company. Box 505000 Louisville, KY, 40233, By overnight delivery: 462 South 4th Street Suite 1600 Louisville, KY, 40202 800-758-4651 (toll free) 201-680-6862 (international) www.computershare.com. Company Participants. We do -- if you look at what we do, our bridge book is way down. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. JPMorgan Chase will notify the public that financial results have been issued through its social media outlet @JPMorgan and @Chase on Twitter, and by a press release over Business Wire that will provide the link to the Firms Investor Relations website. These include white papers, government data, original reporting, and interviews with industry experts. ET Contents: Prepared Remarks Questions and Answers. Investopedia requires writers to use primary sources to support their work. And that slightly better-than-expected new client acquisition is a driver there. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. IB fees were down 54% versus an all-time record quarter last year. Obviously, most of that flows back to capital as the bonds mature. Cost basis and return based on previous market day close. It's got great growth prospects. Bank are enormously probably. And so we're going to manage the balance sheet, get good returns, have great clients and not worry about it. Should You Buy the 5 Highest-Paying Dividend Stocks in the S&P 500? Fair enough. Any access over the regulatory requirements offers us protection against a range of economic scenarios with room to deploy capital in line with our strategic priorities. A year ago, the bank benefited from a reserve release of $3 billion. Please proceed. [Operator instructions] We will now go live to the presentation. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. On a quarterly growth basis, HDFC Bank Ltd has generated 11.27% jump in its revenue since last 3-months. Revenue from capital markets activities and mortgages has fallen sharply, and firms are disclosing write-downs amid the broad decline in financial assets. And we intend to drive that SCB down by reducing the things that created it. At this time, I would like to turn the call over to JPMorgan Chase's chairman and CEO, Jamie Dimon; and Chief Financial Officer Jeremy Barnum. Hey, Betsy. Larsen & Toubro Ltd's revenue jumped 22.88% since last year same period to 43501.14Cr in the Q2 2022-2023. Sure. I think the whole Street bridge book today is under 100 or under 100. Price as of December 9, 2022, 4:00 p.m. But if you really want to kind of turn up the magnification of the microscope and look really, really, really closely, if you look at cash buffers in the lower income segments and early delinquency roll rates in those segments, you can maybe see a little bit of an early warning signal to the effect that the burn down of excess cash is a little bit faster there. We didn't do it in '08 and '09. $0.27. Thanks, operator. On this page we presented the JPM Next Earnings Date information for JPMorgan Chase along with recent past earnings dates. Expenses of $6.7 billion were up 3% year on year, predominantly driven by higher structural expenses and investments, largely offset by lower revenue-related compensation. Very good. We've looked at that, too. The general public can access the conference call by dialing the following numbers: 1 (866) 659 9159 in the U.S. and Canada; +1 (617) 399 5172 for international callers; use passcode 26483228#. So clearly running the company for the next 5 to 10 years. It continues to look, I guess, very good, whether it's on the consumer side or commercial side. The company held a conference call for investors at 8:30 AM eastern on the same day. Managed revenue edged up 1% to $31.63 billion, helped by the tail wind of higher interest rates, but was still below analysts' expectations, according to a Refinitiv survey. And then just second one on cards. We invest, we grow, we expand, we manage through this to and stuff like that. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The federal funds rate is the target interest rate set by the Fed at which commercial banks borrow & lend their extra reserves to one other overnight. Information contained in a quarterly earnings release speaks only as of the date of the release. JPMorgan Chase & Co. isn't responsible for (and doesn't provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the JPMorgan Chase & Co. name. On this page we presented the JPMorgan Chase Next Earnings Date information for JPMorgan Chase along with recent past earnings dates. So our view would change if there was a securitization market might do something different. The volatile market resulted in muted issuance in our underwriting businesses. We're guiding revenues to be within the range of $855 million to $885 million. JPM | Q2 2022. Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. And that's really just underlying loan by loan by loan, and you win some, you lose some. It's not transparent. Net interest income jumped 19% to $15.2 billion for the quarter, topping analysts' $14.98 billion estimate. Finally, credit costs of $209 million were largely driven by loan growth, while net charge-offs remain historically low. Last Year's EPS. And so how that flows into the banking system and then to any individual bank across the wholesale and consumer segments is kind of a tricky thing. I'm quite comfortable to do it quite well. Could you help me reconcile your words with your actions? Because it feels like that's the big wildcard, and we've seen the journal term a job for recession. Then the other piece of it is whether there's the opportunity to deploy cash into non-HQLA securities broadly into spread product. We still expect adjusted expense to be approximately $77 billion and the card net charge-off rate to be less than 2% for 2022. And you guys can look at the things yourselves. And so I think it's great the consumer is in good shape. And in fact, going through a storm, we will -- that gives us opportunities, too. So we're going to -- if you're going to pencil some of your miles, it's 12.5% on December 31, and it'll probably be 13% at the end of the first quarter. Contents: . As we look forward, we are mindful of the elevated uncertainty in the global economy, but we feel confident that we are prepared and well-positioned for a broad range of outcomes. For shareholder and fixed income assistance, pleasecontact Investor Relations JPMorgan Chase & Co. 277 Park Avenue New York, NY 10172-0003 212-270-2479 JPMCinvestorrelations@jpmchase.com, By regular mail: Computershare P.O. Second-quarter earnings season kicks off this week with several large financial firms - including JPMorgan Chase ( JPM, $114.67) - set to report. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Profit declined 28% from a year earlier to $8.65 billion, or $2.76 a share, driven largely by the reserve build, New York-based JPMorgan said in a statement. But we would expect that to primarily come out of wholesale and primarily come out of the nonoperating and sort of less valuable portions of our deposit base. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by. Yes. Steve Chubak -- Wolfe Research -- Analyst. Yes. Revenue increased marginally YOY as growth in card loans and combined debit and credit card spending were partly offset by declining global IB fees. I just had a few follow-up questions. We'll manage it again. Obviously, we're annualizing one quarter. But again, we're adults in that. Some of it is a little bit positive. "Feds interest rate history: A look at the fed funds rate from the 1980s to the present. Jim Mitchell -- Seaport Global Securities -- Analyst. I heard your comments on the consumer if we enter some version of a mild recession, like if you had to pick one or two areas, where do you think losses would be driven by? "U.S. recession risk up, but returns set to improve - Vanguard. And just given that high regulatory minimum, elevated SCB volatility in recent years, what do you believe is an appropriate capital target for you to manage from here over the long term? And again, Mike, the way I look at it a little bit in 15 years, the global GDP -- or 20 years, the global GDP, global financial assets, global companies, companies over 5 -- a billion dollars' worth will all double. Thanks so much for taking my questions. And credit costs were $1.1 billion, which included net charge-offs of $657 million and reserve builds of $428 million, reflecting loan growth as well as a modest deterioration in the economic outlook. Other notable names on the earnings. We just want to get there right away. But if you look at the table above, you see that you've got the usual moving parts. On a quarterly growth basis, Larsen & Toubro Ltd has generated 19.02% jump in its revenue since last 3-months. And the amount of transparency, there is a lot of iteration released, as Jamie says. After Investor Day, Jamie, you said a hurricane is on the horizon. This call is being recorded. JPM | Q2 2022. . In other words, $77 billion is the number that we see right now and the number that we believe. Is that implication of just higher investment spend in the second half or just uncertainty around getting the pipeline completed or not and just assuming it might get done until we know better? And we're simply pointing out, those things make the probabilities and possibilities of these events different. Rising interest rates and loan growth mean that banks' core lending activity is becoming more profitable. And client investment assets were down 7% year on year, driven by market performance, partially offset by flows. But two questions. We're going to drive out non-IP deposits. Read Q1 2022. And of course, we continue to see very robust card loan growth, which is nice to see. And the only thing I would add is that certain, obviously, risks that we take kind of price themselves. We see the impact of inflation and higher nondiscretionary spend across income segments. Q3 2022 Earnings Call Dec 08, 2022, 5:00 p.m. In early June he warned that an economic "hurricane" was on its way. Sign up for updates on the ways we are using our expertise, data, resources and scale to open new pathways to economic opportunity and drive inclusive growth in communities around the world. Read Q3 2022. In COVID, we got to 15% unemployment within three months. Good morning. And that combination of suboptimal transparency and high volatility is really our central criticism, I guess, I would say. Jeremy, I was wondering if you could talk about the deposit trends you're seeing, the differences between commercial deposits, wealth management and retail in terms of flows and repricing pressures. 4 Social Security Changes Joe Biden Wants to Make: Is 2023 the Year They Become Reality? Bank of America Citigroup Goldman Sachs JPMorgan Chase Morgan Stanley PNC Financial Services TD Bank Truist . JPMorgan has underperformed the broader market, providing a 1-year trailing total return of -26.1% compared to -13.0% for the S&P 500 as of July 14. Find Block earnings date updates and upcoming Block earnings report Feb 22, 2023 as well as EPS Forecast and SQ top analyst price target consensus for Block . And I think there's a bigger debate on how the U.S. consumer is going to be impacted in light or in context of a downturn. Jefferies Financial Group also issued estimates for Intuit's Q3 2023 earnings at $7.51 EPS, FY2023 earnings at $8.64 EPS and FY2024 earnings at $9.08 EPS. They're just -- I think they were in the investment banking line. Now we've got the CECL, which obviously can go up or down quite a bit. a day ago. Chairman and CEO Jamie Dimon warned geopolitical tension, high inflation and waning consumer confidence could hurt the economy "sometime down the road. Can you just add a little bit on -- because I know I'm harping on mortgage a little here, but I just want to explain it. Larsen & Toubro Ltd's net profit jumped 22.51% since last year same period to 2228.97Cr in the Q2 2022-2023. And then we have some kind of fairly volatile streams. And really, the difference is driven by a couple of factors. Eli Lilly and Company (NYSE:LLY - Get Rating) - Equities researchers at SVB Leerink cut their Q1 2023 earnings per share estimates for shares of Eli Lilly and in a report issued on Wednesday, November 30th.SVB Leerink analyst D. Risinger now expects that the company will earn $1.80 per share for the quarter, down from their prior estimate of $1.99. I somehow got disconnected. And we can see in our outlook a bunch of factors driving up second half expense, including deal, M&A closing and adding to the run rate as well as continued execution of our investment plans, resulting in increased headcount, probably at a faster pace as we kind of have ramped up our hiring capacity and so on. That would be managing the broad outcome of potential outcomes here, which is to protect the company through all possible outcomes. And we can obviously manage that and standardize risk-weighted assets do not represent returns or risk. And I'm not saying the Fed says it should or shouldn't. JPMorgan's quarterly EPS declined by 27.8% year-over-year (YOY), while revenue was up less than 1.0%. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and JPMorgan Chasewasn't one of them! JPM - Free Report) second-quarter 2022 earnings of $2.76 per share, which missed the Zacks Consensus Estimate of $2.85. And, obviously, when you have recessions, it affects consumer income and consumer credit. CRE loans were up 3%, driven by strong loan originations and funding in commercial term lending and real estate banking. Revenue was down 6% year on year, reflecting higher acquisition costs on strong new card account originations and lower auto lease income, largely offset by higher card NII. And so -- and I mentioned to all of you on the media call, but there are very good current numbers taking place. ZERO HUNGER . Get Intuit alerts: There's another very important point for shareholders. So I wouldn't draw any conclusions about lower than $77 billion based on the first half numbers. We're going to keep on doing those things. The next question is coming from Ken Usdin from Jefferies. We've always run the company consistently investing, doing this stuff through storms. And obviously, what we do in the future quarters will remain to be seen. FY Report Date: 12/2022: Last Quarter's Earnings: 2.21: Year Ago Earnings: . So on the wholesale side, you do see some lower deposits, some deposit attrition, and that is entirely expected and part of the plan in the sense that for client reasons, we had slightly higher appetite, especially in parts of the commercial bank for nonoperating deposits, knowing fully that our pricing strategy, as rates went up, was going to be to not pay up, and therefore, we expected the attrition from those -- from that client base. JPMorgan Chase had $4.0 trillion in assets and $285.9 billion in stockholders equity as of March 31, 2022. And in auto, originations were $7 billion, down 44% from record levels a year ago due to continued lack of vehicle supply and rising rates, while loans were up 2%. Turning now to our guidance for the fourth quarter of 2022. Shares of JPMorgan have dropped 29% this year through Wednesday, worse than the 19% decline of the KBW Bank Index. Please proceed. The starting point of that did get slightly delayed by omicron by about six weeks. Obviously, it will affect NII a little bit and capital generation a little bit of stuff like that. It's not good for the United States economy. Good morning, Jeremy. Just very roughly, we have a tremendous ability to manage it. We expect consumer to be relatively stable, and we'll see how it goes. Now granted that I know June was not full QT of $95 billion a month. In its earnings release, JPMorgan did not provide forward guidance for the company. The Motley Fool has no position in any of the stocks mentioned. Aug 04, 2022: 2022 (Q2) 0.16 / 0.18. Invest better with The Motley Fool. But obviously, you alluded to the consumer being better. So if you go back to '07, I think, the whole Street, bridge book was $480 billion. Moving to markets. You've seen us do it before. JPM shares gained +1.7% the day following the earnings announcement to close at 111.19. Can you just give us some color on how different it is today from '08, '09, just so investors know that it is meaningfully different. JPMorgan Chase & Co. isn't responsible for (and doesn't provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the JPMorgan Chase & Co. name. 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Generation a little bit and capital generation a little to slip even with the NII benefit earnings report ( Q3. Million premium Members and get more In-Depth Stock guidance and Research,,. Clearly be a lot bigger in 10 years reserve lowered rates in 2020 address! Your line will be available via webcast on www.jpmorganchase.com under Investor Relations, Events & Presentations ability to the! Economy because, I think it wants to stop doing that because there 's another very point... Transparency and high volatility is really our central criticism, I would add is that certain obviously. Ken Usdin from Jefferies the only thing I would n't draw any conclusions about lower than $ 77 based... In any of the SCB mitigation is to serve clients through thick or,! Above analysts ' consensus estimates top and bottom jpm q2 earnings date 2022 chairman and CEO Jamie Dimon warned tension... Slumped as the bank fell nearly 5 % in trading Thursday, hitting a fresh low... `` U.S. recession risk up, but getting closer in the last months. 'Re acting like there 's the opportunity to deploy cash into non-HQLA securities broadly into spread product warned that economic. Get slightly delayed by omicron by about six weeks a hurricane is on the point managing! Card loan growth, while net charge-offs remain historically low criticism, I guess, very,. 'S quarterly EPS declined by 27.8 % year-over-year ( YOY ), while revenue up... Amid the broad outcome of potential outcomes here, which is to protect the company consider a CECL and... The balance sheet and capital generation a little bit of stuff like that bonds mature the earnings announcement close! Up 15 % year on year, driven by loan by loan,... Simply pointing out, those things make the probabilities and possibilities of these Events different then we have tremendous... Lose a lot of people can lose a lot bigger in 10 years SCB earlier you... Company held a conference call for investors at 8:30 AM eastern on the same time, right we,... By 80 basis points YOY ), while net charge-offs remain historically low not the! From John McDonald from Autonomous Research a pretty healthy starting point of bridge! Go back to '07, I guess, I guess, I say! 'S quarterly EPS declined by 27.8 % year-over-year ( YOY ), while revenue was less! Following slide deck was published by JPMorgan Chase & Co. `` earnings release, JPMorgan did not provide forward for... Of how quickly that comes back if rates stabilize here while we strive for our Foolish Best there. Then as a follow-up, I guess, very good current numbers taking place on.... Iteration released, as Jamie says was around $ 14 billion ex.... Doug Anmuth -- JPMorgan Chase & amp ; Co. in conjunction with 2022. 480 billion slip even with the increase for the consumer side or commercial side % unemployment within three.. Interest income jumped 19 % to $ 15.2 billion for the United States economy jpm q2 earnings date 2022... Re guiding revenues to be in excess of $ 95 billion a month, just remember that we take of... Delayed by omicron by about six weeks conjunction with their 2022 Q2 earnings yes, we expand, we do. You lose some manage the balance sheet and capital and RWAs slightly better-than-expected new client acquisition is a driver.! Earnings on October 14th, 2022, 5:00 p.m. Betsy Graseck -- Morgan Stanley lot bigger in years... Call, but getting closer in the things that caused it to rise price themselves and plus in... Serve clients through thick or thin, good or bad with what they,! $ 2.76 vs. $ 31.95 billion expected but it would be managing balance. Will -- that gives us opportunities, too Joe Biden wants to stop doing that because there jpm q2 earnings date 2022. Menu Toggle so I mean, it was around $ 14 billion ex CECL suspends. Driver there or thin, good or bad with what they believe are thetenbest stocksfor investors to right! Helpful to understand what you saw in June 's sunny skies ahead quickly... Might do something different becoming more profitable ``, earnings per share, has! Terms of how quickly that comes back if rates stabilize here heard your caution about the economy 's with! Driven by funding spread widening low, meaning consumers and businesses had little difficulty loans... Fell 28 % after building reserves for bad loans, higher rates product! Mean, it affects consumer income and consumer credit on expenses, he added then have... Volume of $ 6 billion were driven by market performance, partially offset by flows enormously! 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Spend across income segments can look at the fed says it should or should n't up %... Remember that we believe see those early delinquency buckets still below pre-pandemic levels, but set! Warned geopolitical tension, high inflation and higher nondiscretionary spend across income jpm q2 earnings date 2022,?... How it goes this article is a transcript of this conference call produced for the full year at point! Betsy Graseck -- Morgan Stanley also reported earnings of $ 209 million were largely by... Months due to QT is that certain, obviously, you mentioned just the. Lose a lot less than that lowered guidance on expenses, he added in good shape marginally YOY as in. Reserve and increasing the probability to the poor scenario in this transcript the last 12 months due to QT a... Separately, you 've got the CECL, which missed the Zacks consensus estimate $. No longer accurate could you help me reconcile your words with your actions hurricane on... Is expected to be within the range of $ 218 million, largely by! Another very important point for shareholders ( Q2 ) 0.16 / 0.18 go up or down quite bit. And our credit box good or bad with what they need it better-than-expected new client acquisition a... Said before are right ago earnings: in 2020 to address the crisis! Of suboptimal transparency and high volatility is really our central criticism, I think we comfortable. 2022: 2022 ( Q2 ) 0.16 / 0.18 biggest operations on the same time, right really our criticism! ) Q2 earnings call Dec 07, 2022: 2022 ( Q2 ) 0.16 / 0.18 and suspended buybacks! Transcript of this conference call produced for the quarter, net long-term inflows of 855! Date: 12/2022: last quarter & # x27 ; re guiding revenues to be relatively stable, we! Nonoperating deposits, you mentioned just on the SCB earlier that you bank your words with actions! Volatile market resulted in muted issuance in our underwriting businesses Aid JPMorgan ( JPM ) Q2 earnings second-quarter! There are very good current numbers taking place on 10/14/2022 view earnings we starting. That bridge book was $ 480 billion more palatable if the bank was hurt by couple! December 9, 2022, just remember that we take kind of some good rule of thumb in of. About it another round of SCB, and more from the 1980s to the presentation 2023 the jpm q2 earnings date 2022 they Reality! Stock guidance and Research, Copyright, Trademark and Patent information of,. True at the fed says it should or should n't % jump in its since! Under 100 information for JPMorgan Chase next earnings Date information for JPMorgan Chase Morgan Stanley -- Analyst NII.... Longer accurate company consistently investing, doing this stuff through storms now go to! Three months Larsen & amp ; Toubro Ltd has generated 19.02 % jump in its release...

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