Lightning Round: The Biggest Takeaways From JPMorgan Chase, Wells Fargo, and Citigroup
We have officially kicked off earnings season.
This morning, ahead of the opening bell, we got earnings from JPMorgan Chase (JPM) - Get JP Morgan Chase & Co. Report, Wells Fargo (WFC) - Get Wells Fargo & Company Report and Citigroup (C) - Get Citigroup Inc. 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.
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