Lightning Round: The Biggest Takeaways From JPMorgan Chase, Wells Fargo, and Citigroup

Author:
Publish date:
Video Duration:
1:09

We have officially kicked off earnings season.

This morning, ahead of the opening bell, we got earnings from JPMorgan Chase (JPM) - Get Report, Wells Fargo (WFC) - Get Report and Citigroup (C) - Get Report.

Since Jim Cramer's at JPMorgan's healthcare conference this week, Jeff Marks--senior portfolio analyst with Action Alerts PLUS--joined TheStreet's live show. 

JPMorgan reported earnings for the three months ending in December that came in at $2.57 per share, up 29.8% from the same period last year and well ahead of the Street consensus forecast of $2.35 per share. Group managed revenues, JPMorgan said, rose 9% to $29.2 billion, against topping analysts' forecasts of a $27.96 billion tally

And then Citigroup reported earnings of $4.98 billion, or $1.90 a share, in the fourth quarter, up from $4.31 billion, or $1.61 a share, from the same period last year. Analysts polled by FactSet had been expecting per-share earnings of $1.81 a share.

Finally, Wells Fargo reported earnings for that came in at 60 cents per share, including a 33 cents per share hit from litigation costs, a figure that fell shy of the Street consensus forecast of $1.12 per share. Group revenues also missed forecasts, falling 5.2% to $19.9 billion as net interest income fell 11.1% to $11.2 billion.

Watch the full video above for more.

Online real estate platform CrowdStreet delivers investors a new way to diversify their portfolios with real estate. Individual investors can use CrowdStreet’s leading online marketplace to connect with a wide array of commercial real estate opportunities and projects to make investing in real estate easy! Download the Real Estate Guide.

Catch up on the Latest News, Features & Webinars on TheStreet!