JPMorgan said earnings for the three months ended in September came in at $2.68 per share, up 14.5% from the same period last year and 23 cents ahead of the Street consensus forecast. Group managed revenues were pegged at $29.3 billion, the bank said, easily topping analysts' estimates of a $27.8 billion tally.
Net interest income, JPMorgan said, rose 2.12% from last year to $14.4 billion, a figure it expects to see coming int at $57.5 billion for the full year, while revenues from its fixed income division rose 25% to $3.6 billion, smashing the Street forecast of $3.09 billion. That offset a 5% slide in equity market revenues, which fell to $1.5 billion.
"We had record third quarter investment banking fees with particularly strong performance in debt capital and equity capital markets, and year-to-date we maintained our #1 global ranking with share gains across products and regions," said CEO Jamie Dimon. "Markets performance was solid, reflecting improved client activity - particularly in fixed income."
"In the U.S. economy, GDP growth has slowed slightly. The consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels," Dimon added. "This is being offset by weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade."
JPMorgan shares were rising 4.13% to $121.26.