Nick Hampton . Moving to markets. JPMorgan Chase & Co. Earnings Date & Reports Follow 15,159 Followers Portfolio Earnings Data Report Date Jan 13, 2023 Before Open Not Confirmed Period Ending 2022 (Q4) Consensus EPS Forecast $3.1 Last Year's EPS $3.33 Same Quarter Last Year Analyst Consensus Moderate Buy Based on 11 Analysts Ratings We wouldn't lose -- I think they had us losing $44 billion. I wonder if you could just talk to how you balance it all? In early June he warned that an economic "hurricane" was on its way. Because it feels like that's the big wildcard, and we've seen the journal term a job for recession. And so it's unfortunate because I think this is all kind of a waste of time in terms of serving our clients. We'll originate but the balances in the books will probably come down. How do you think about your ability to manage the RWA output and dimensionalizing how, if at all, it might impact either the net income or outcome or the ROTCE outcome as you look forward? I would like to turn the. I mean, it's exceptional. Businesses, you talk to them, they're in good shape. And then to complete our lines of business, AWM on Page 7. In terms of outlook, while our existing pipeline remains healthy, conversion of the deal backlog may be challenging if the current headwinds continue. Fair enough. On a quarterly growth basis, HDFC Bank Ltd has generated 11.27% jump in its revenue since last 3-months. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Shares of JPMorgan have dropped 29% this year through Wednesday, worse than the 19% decline of the KBW Bank Index. 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. Yes. That's the rule. Could you give us a sense as to what you saw in the results that you got that drove that SCB up, because I talked to folks to say it's a black box. And second, what caused the write-down in the bridge book this quarter? I think the whole Street bridge book today is under 100 or under 100. We do that all the time anyway. But I think there's really still a big question about whether that's simply normalization or whether it's actually an early warning sign of deterioration. Yes. And then we have some kind of fairly volatile streams. We didn't lose money after Lehmann. 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. Card outstandings were up 16%, and revolving balances were up 9%. One tail wind the company has is rising U.S. rates and a swelling book of loans. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. And then there's some subtle kind of funding effects from the higher rate environment contributing to it as well. JPMorgan said it added to reserves because of a "modest deterioration" in its economic outlook. But it would be more palatable if the bank lowered guidance on expenses, he added. Source: Predictions based on analysts' consensus fromVisible Alpha. We want to hear from you. CET1 capital was slightly down as earnings were offset by distributions and the impact of AOCI drawdowns in our AFS portfolio. So you have some flex. And we're big boys. Just kind of wondering what that looks like and what kind of fading benefit from rate ex you have assumed in your outlook. Prosperity. And given the new higher SCB, future increases in your G-SIB surcharge to 4.5%, your regulatory minimum is slated to increase beyond 13% by 2024, which is also beyond the horizon reflected on Slide 3. 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. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. Right. Look, I think the short answer to that question is no, certainly not in any of our reported actual results for this quarter. 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. Doug Anmuth-- JPMorgan Chase and Company -- Analyst. Please stand by. Please proceed. Notably, the average consumer is spending 35% more year on year on gas and approximately 6% more on recurring bills and other nondiscretionary categories. JPMorgan Chase (NYSE: JPM) Q2 2022 Earnings Call Jul 14, 2022, 8:30 a.m. Find the latest SEC Filings and Earning Call Transcripts for JPMorgan Chase & Co. (JPM) at 10kreader.com. That was managing certain exposures. Thanks, operator. So across those three bits, we'll see how it goes. Our effective tax rate for the third quarter of 2022 was 24.6%, compared to 24% in the third quarter of 2021. Please proceed. The first is on balance sheet management. Yes. Please review its website terms, privacy and security policies to see how they apply to you. I don't believe you've provided an update on your firmwide CET1 target of 12.5% to 13%. 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. We now expect it to be in excess of $58 billion, reflecting Fed funds reaching 3.5% by year end. *Stock Advisor returns as of June 2, 2022. Equities trading revenue also jumped 15%, to $3.08 billion, which edged out the $2.96 billion estimate. So we'll work on it. And if we have to, we'll just drive down credit more to where we got to create. We're guiding revenues to be within the range of $855 million to $885 million. The next question is coming from Erika Najarian from UBS. The future environment, which is not that far off, involves rates going up, maybe more than people think because of inflation, maybe elation, maybe soft -- there might be a soft landing. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. And obviously, the spread product is more attractive right now. 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. A doom loop is a series of actions, beliefs, or events with each prior action, belief, or event reinforcing the next into a negative feedback spiral. Same Quarter Last Year. 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. I mean, it's like you're acting like there's sunny skies ahead. Obviously, most of that flows back to capital as the bonds mature. In its earnings release, JPMorgan did not provide forward guidance for the company. 7/14/2022 . There's another very important point for shareholders. On a quarterly growth basis, Larsen & Toubro Ltd has generated 19.02% jump in its revenue since last 3-months. And volatility in financial markets has been a boon to fixed income traders. The economy will be bigger in 10 years. Yes. Please proceed. And, Glenn, just remember that we did do that last quarter, right? And that showed exceptionally low losses in wholesale. It's definitely more of the former than the latter. *Average returns of all recommendations since inception. 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. Are you -- we don't really see it, but are you starting to see any initial cracks in credit or strains in the system? 1. Because -- if you go to Europe, OK, the capital held against mortgage is like a fifth what we have to hold here. 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. The replay will be available via webcast on www.jpmorganchase.com under Investor Relations, Events & Presentations. And, obviously, when you have recessions, it affects consumer income and consumer credit. 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 guess just one for -- a couple of follow-ups, Jeremy. Got it. This is one. [Operator instructions] We will now go live to the presentation. No. JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (U.S.), with operations worldwide. The stock has fallen 29%. And for us, as you know, our portfolio is really not very exposed to that segment of the market. But I would tell you, we'd make money under that scenario. Shares of JPMorgan stock fell by about 2.8% in early trading following the company's earnings announcement. Expenses of $1.2 billion were up 18% year on year, predominantly driven by higher structural and volume and revenue-related expenses. This call is being recorded. And the first question is coming from Steve Chubak from Wolfe Research. Right. JPMorgan Chase & Co.'s website terms, privacy and security policies don't apply to the site or app you're about to visit. So the 66 number, if you want, kind of to put a number in, you can use something like 68, 68 plus, something like that. We do 100 a week. This compares to the year-ago quarter when earnings came to $3.78 per share on revenue of $29.96 billion. Fixed income trading revenue jumped 15% to $4.71 billion, but that was still well below analysts' $5.14 billion estimate for the quarter, as strong results in macro trading were offset by weakness in credit and securitized products. The bank's earnings miss "is not terrible" because non-Wall Street operations performed well as deposits grew and borrowers continue to repay debts, Wells Fargo bank analyst Mike Mayo said in a research note. Operator Good morning, ladies and gentlemen. IB fees were down 54% versus an all-time record quarter last year. 10 stocks we like better thanJPMorgan ChaseWhen our award-winning analyst team hasa stock tip, it can pay to listen. Maybe I'll just jump in a little bit on the black box. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by. Or do you think you can get there just through what you've laid out today on the buyback pause? So our view would change if there was a securitization market might do something different. Most of this stuff doesn't create any additional risk at all. Maybe just on expenses. And that more or less remains true. Spend is still healthy with combined debit and credit spend up 15% year on year. The next question is coming from John McDonald from Autonomous Research. Like should we expect you to add duration or do anything synthetic to protect against lower rates? Loans were up 4% sequentially. So it really wasn't necessarily this quarter. 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. 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. And you guys can look at the things yourselves. And just for my follow-up on the loan growth outlook. 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. Following its earnings release, 51 days ago, JPM stock has drifted +21.6% higher. Aug 04, 2022: 2022 (Q2) 0.16 / 0.18. Highlights. It's not good for the United States economy. And as you note, have two G-SIB bucket increases coming, one in the first quarter of '23 and the other one in the first quarter of '24. And because obviously, we use capital for a whole bunch of different reasons. It's basically capricious arbitrary. I hear you on all that. So we had worked all that out on Investor Day and talked about 12.5% to 13% target, which implies sort of a modest buffer to be used flexibly based on what we expected would be some increase in SCB. However, many economists believe that the economy risks slipping into recession, caused by both the Fed rate hikes and global supply chain disruptions that are accelerating the pace of price increases. Good morning, Jamie. Yes. And there continue to be positive trends in loan growth across our businesses, with average loans up 7% year on year and 2% quarter on quarter. Hey. The only other thing is just market revenue is a lot weaker, right? And as we think about the $58 billion-plus in updated NII guide, what kind of deposit growth does that assume? They're spending 10% more than last year, almost 30% plus more than pre-COVID. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. JPMorgan already has a $30 billion share buyback programme live, although this has no end date and therefore it could apply the brakes if need be. I just had a few follow-up questions. Yes. Hi. And that was a good thing because a lot of people can lose a lot of money there, and we lost a little. We're going to drive out non-IP deposits. 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. Touching on a few highlights. I just wanted to get your thoughts there. On to balance sheet and capital on Page 3. While in consumer, while you could, in theory, have a little bit of a headwind there, we feel pretty good about our ability to keep those levels pretty steady based on the strength of the franchise and the ability to take share. Obviously, we're annualizing one quarter. We can continue doing that. 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%. It's not going to change how we run the company. Yes. JPMorgan Chase & Co. "EARNINGS RELEASE FINANCIAL SUPPLEMENT: SECOND QUARTER 2022," Page 6. We've never done that. Finally, credit costs of $209 million were largely driven by loan growth, while net charge-offs remain historically low. We're here to serve clients through a thick or thin, and we will do that. And mortgage origination volume of $22 billion was down 45%. But they're in very good shape. Hey, guys. So I wouldn't draw any conclusions about lower than $77 billion based on the first half numbers. But since the SCB is really a quantity that gets measured to the peak drawdown period, and that information does not get released, it winds up being really very hard at any given moment to understand what's actually driving it. I think for COVID, it was around $14 billion ex CECL. And look, we reserve the right to change that. Last month, the bank was forced to keep its dividend unchanged while rivals boosted their payouts. Yes. We do -- if you look at what we do, our bridge book is way down. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. We're not going to go below any regulatory minimum. Yes. JPMorgan's next earnings report (for Q3 FY 2022) is expected to be released on Oct. 14, 2022. published July 11, 2022. In terms of underwriting, as you say, we do underwrite through the cycle. Welcome to JPMorgan Chase s Second Quarter 2022 Earnings Call. What's the benefit of all these technology investments if we have a recession over the next --. Is it tracking the way you think it's going to be? And that outlook is more or less still in place. Rising interest rates and loan growth mean that banks' core lending activity is becoming more profitable. Please stand by. .66-72.73% (-0.48) May 05, 2022: 2022 (Q1) 0.20 / 0. . The following slide deck was published by JPMorgan Chase & Co. in conjunction with their 2022 Q2 earnings call. Pinjalim Bora-- JPMorgan Chase and . So, yes, and just to finish on card. But by not owning it, buying it, sign it, hedging it, swapping it, there are a million ways to manage it without really affecting a lot of your risk of returns. It's not transparent. Good morning. So even we go in a recession, they're entering that recession with less leverage in far better shape than they've been -- did in '08 and '09 and far better shape than they did even in 2020. The place that everyone --. So if you said add NII next quarter, yes, we could do that. Contents: . And in a sense, arguably, we were sort of early on that. That number, that doesn't need remotely -- the stress loss doesn't even remotely represent what happened under that kind of scenario. Now we've got the CECL, which obviously can go up or down quite a bit. The next question is coming from Betsy Graseck from Morgan Stanley. 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. We expect non-GAAP gross margins to be within the range . We know that, and there are write-downs of a couple of bridge loans. And you do see those early delinquency buckets still below pre-pandemic levels, but getting closer in the lower income segment. For the quarter, net long-term inflows of $6 billion were driven by equities. Please dial in 15 minutes prior to the start of the call. And obviously, through-the-cycle is an average, and you can kind of double that from -- OK. You can learn more about the standards we follow in producing accurate, unbiased content in our. Expenses of $2.9 billion were up 13% year on year, largely driven by investments in our private banking advisory teams, technology, and asset management as well as higher volume and revenue-related expenses. 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). Is it CRE? But I don't know, maybe if you want a little bit of general color about how we're thinking about the portfolio. JPMorgan Chase (JPM) Financial Results: Analysis, Doom Loop: Definition, Causes, and Examples, Federal Funds Rate: What It Is, How It's Determined, and Why It's Important, Gross Domestic Product (GDP): Formula and How to Use It. So if you wanted to try to look for early warning signals, that's where you would see it. Higher rates and balance sheet growth supported revenue performance, while gross investment banking revenue plunged. We're not going to just immediately run out of it. JPMorgan Chase's net interest margin came in above analysts' consensus estimates. The slowdown in Wall Street deals stung JPMorgan, which has one of the biggest operations on the Street. "Price Chart: JPM and S&P 500. Read Q1 2022. So obviously, you're right in the sense that we didn't talk about 2024 on the slide. Jamie Dimon -- Chairman and Chief Executive Officer. I get that. Calendar Company Financials Consensus Revisions Funds Days : Hours : Minutes : Seconds Transcript : JPMorgan Chase & Co., Q2 2022 Earnings Call, Jul 14, 2022 07/14/2022 | 08:30am EST Good morning, ladies and gentlemen. "JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybacks. In advisory, fees were down 28%, reflecting a decline in announced activity, which started in the first quarter. And as you know, and as you can see, there's a lot of organic capital generation. But as Jamie said, we feel pretty confident here. But as you said, Jamie, and as Daniel also mentioned at Investor Day, I think we made conscious choices here to dial back our risk appetite and accepted some share losses in leveraged finance. Revenue of $2.7 billion was up 8% year on year, driven by higher deposit margins, partially offset by lower investment banking revenue. This call is being recorded. Deposits were down 5% quarter on quarter, driven by migration of nonoperating deposits into higher-yielding alternatives, which we expect to continue given the current rate environment. I somehow got disconnected. Note that JPMorgan refers to net interest margin as "net yield on interest-earning assets" in its financial materials. (JPM).". JPM - Free Report) in the second quarter of 2022 as well. "U.S. recession risk up, but returns set to improve - Vanguard. Sure. New York - Citigroup will issue its second quarter results via press release at approximately 8 a.m. (ET) on Friday, July 15, 2022. So we already introduced a sort of skew to the outlook beyond what's implied by the market to reflect our own slightly more negative view. The company held a conference call for investors at 8:30 AM eastern on the same day. In terms of deposits, at this point, deposit growth is probably less of a driver overall looking forward of the NII outlook. We just have to hold a higher number now, and we're going to go there. The decline in net income was partly fueled by a net credit reserve build and net charge-offs. Buffers are still above what they were pre-pandemic, but coming down, and that absolute numbers for the typical customer are not that high. JPMorgan Q2 earnings preview The financial sector is expected to experience the toughest quarter within the S&P 500 this earnings season, with forecasts from FactSet suggesting we will see, on average, over a 22% drop in profits compared to a milder 4.1% drop across the entire index. There's lots of puts and takes, but how would you frame kind of total reserve sales to moderate [Inaudible]. But analysts have begun slashing earnings estimates for the sector on concern about a looming recession, and most big bank stocks have sunk to 52-week lows in recent weeks. down fifty four percent versus and all time record quarter last year we maintained or number one ranked with a year to date wallet share of eight point one percent and . And so we know you've had a structural spending. But of course, in this moment, we're going to turn up the heat on that a little bit. We're going to keep on doing those things. But I've already mentioned about we dramatically reduced RWA this quarter. In terms of the markets have gone very quickly from pricing in a ton of rate hikes to potentially pricing in rate cuts next year, just talk to us like how that's informing your ALCO balance sheet management as you think about hedging downside risk from lower rates 12 to 18 months out? Obviously, you've got the denominator increase in there, too, and spend versus land. Get Intuit alerts: As we discussed at Investor Day and as we show at the bottom of this presentation page, our organic capital generation allows us to rapidly build capital in excess of future requirements with a current target of roughly 12.5% in the fourth quarter. JPMorgan Chase & Co. (JPM) reported mixed results in its Q2 FY 2022 earnings report. On Page 2, we have some more detail. ", MarketScreener. Who Is Ben Bernanke? And obviously, as you know, it's going to be very much a function of the economic environment, so --. 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. JPM | Q2 2022. . Earnings: $3.12 a share, beating the $2.88 estimate of analysts surveyed by Refinitiv. Better Buy: JPMorgan Chase or Morgan Stanley? 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). Larsen & Toubro Ltd's revenue jumped 22.88% since last year same period to 43501.14Cr in the Q2 2022-2023. We're going to keep a buffer -- I'm not even sure what the SCB means at this point. 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%. 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. Our credit card portfolio is prime. The bank said third-quarter profit . We're going to invest in the things, and we'll manage through that. Credit is still quite healthy, and net charge-offs remain historically low. Desjardins analyst D. Young forecasts that the bank will post earnings of $1.55 per share for [] 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. But again, we're adults in that. Investopedia requires writers to use primary sources to support their work. At the moment, there are no further questions in the queue. 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. Mr. Barnum, please go ahead. Let me state very simply for you. We maintained our No. 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 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? JPMorgan's quarterly EPS declined by 27.8% year-over-year (YOY), while revenue was up less than 1.0%. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. So it's early on that. Good morning, guys. Moving to commercial banking on Page 6. Jobs are plentiful. Trading, Loans, Higher Rates to Aid JPMorgan (JPM) Q2 Earnings. NOTE: Some of the 2022 due dates listed below are extended for victims of recent natural disasters. And we don't agree with the stress test. Some of it is a little bit positive. So that remains strong, not seeing any attrition there, and it's early in the cycle to really be observing much one way or the other from a pricing perspective. Daily Market Wrap So I mean, look, I think all of these things are true at the same time, right? OK. Great. ", Reuters. 9.6 or something is probably the right number for the full year at this point. And did you all consider a CECL reserve and increasing the probability to the poor scenario in this quarter? JPMorgan Chase & Co.'s website terms, privacy and security policies don't apply to the site or app you're about to visit. Yes. The next question is coming from Jim Mitchell from Seaport Global Securities. And we're simply pointing out, those things make the probabilities and possibilities of these events different. Read more on "MotleyFool". So the good rule of thumb on constant rates is about 10 basis points of CET1 accretion a year. On this page we presented the JPMorgan Chase Next Earnings Date information for JPMorgan Chase along with recent past earnings dates. 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. And just one follow-up on credit. Ex-Date December 14, 2022, Entitlement date December 15, 2022 and. From the time it announced earnings, JPM traded in a range between 114.32 and 138.66. And so that, all else equal's a little bit the headwind relative to what we'd expected, but still obviously very robust. In addition to being available on the Firms Investor Relations website, the earnings results also will be filed with the Securities and Exchange Commission (SEC) on a Form 8-K, which will be available on the SEC website at https://www.sec.gov. Earnings per share (EPS) and revenue both missed analyst estimates. Betsy Graseck -- Morgan Stanley -- Analyst. 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. It continues to look, I guess, very good, whether it's on the consumer side or commercial side. We're also seeing good growth in CRE. And I think, Jamie, you mentioned that -- if I heard it correctly, that maybe $300 billion to $400 billion of deposits could outflow over time, I am assuming due to QT. The firm reported net income of $8.6 billion, EPS of $2.76 on revenue of $31.6 billion, and delivered an ROTCE of 17%. You do see a little bit of a decline or a little bit of a headwind in wealth management. And my follow-up question is for Jamie. It just causes a huge confusion about where you should be doing your capital. The starting point of that did get slightly delayed by omicron by about six weeks. Good morning, everyone. Sure. How families used the advanced Child Tax Credit, JPMorgan Chase to Host Second-Quarter 2022 Earnings Call. Every 5% is another $500 million or something like that, if you change your odds, and so on --. Underwriting fees were down 53% for debt and down 77% for equity. Hey, Betsy. In COVID, we got to 15% unemployment within three months. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. We feel that it's appropriate and conservative at this point. The financial services provider reported $2.76 EPS for the quarter, missing analysts' consensus estimates of $2.85 by ($0.09). JPM J P Morgan Chase & Co Q2 2022 Earnings Call Jul 14, 2022 + Google Calendar + iCal Export Details Date: Jul 14, 2022 Time: 8:30 am - 9:30 am Other Ticker Details JPM Company Name J P Morgan Chase & Co Earnings Call Date 14-07-2022 Time (ET) 08:30 AM Fiscal Quarter Q2 Fiscal Year 2022 Live Webcast URL https://www.jpmorganchase.com/ir/events The presentation is available on our website, and please refer to the disclaimer in the back. Get this delivered to your inbox, and more info about our products and services. And so -- and I mentioned to all of you on the media call, but there are very good current numbers taking place. Credit adjustments and other was a loss of $218 million, largely driven by funding spread widening. We're going to open our branch. We can't really control it. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. No. Next to CIB on Page 5. Image source: The Motley Fool.JPMorgan Chase (NYSE: JPM)Q2 2022 Earnings CallJul 14, 2022, 8:30 a.m. ETOperatorContinue reading. 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. 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. Welcome to JPMorgan Chase's Second Quarter 2022 Earnings Call. . Just wanted to understand what the assumption was there as well, please? I'll keep it brief. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. Its weighted average life of four or five years, yes. Like how do you expect that downturn to kind of play out? Steve Chubak -- Wolfe Research -- Analyst. Ben Bernanke was the chair of the board of governors of the U.S. Federal Reserve from 2006 to 2014. a day ago. And in by, there's good evidence. In fixed income, elevated volatility drove both increased client flows and robust trading results in the macro franchise, most notably in currencies and emerging markets. And so -- and plus, in a recession, certain things get cheaper, branches are enormously probable. Got it. JPMorgan Chase & Co. (JPM) 14 Jul 222022 Q2 Earnings call transcript Company Profile Participants Call transcript Due to licensing restrictions, you must log in to view earnings call transcripts. Presentation Operator MessageOperator Good day, and welcome to Minerva's Third Quarter 2022 Earnings Call. Next, the outlook on Page 9. Bankrate. 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. When will JPMorgan release Q2 earnings? It was the bank's second-best quarter ever for trading revenue, Wall Street division head Daniel Pinto told employees in a memo after results were released. If we have a recession in the next 5 to 10 months, how does technology help you manage through that better, whether it's credit losses, managing for less credit losses, expenses, more flexibility or revenues may be gaining market share? 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. You don't have some flex. ZERO HUNGER . And so we feel in very good shape. Expenses of $7.7 billion were up 9% year on year driven by higher investments and structural expenses, partially offset by lower volume and revenue-related expenses. On the one hand, unemployment levels remained low, meaning consumers and businesses had little difficulty repaying loans. 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. Welcome to JPMorgan Chase's second quarter 2022 earnings call. ET. It's too volatile. We do not undertake any obligation to update the information, whether as a result of new information, future events or otherwise. The next question is coming from Matt O'Connor from Deutsche Bank. So we're quite careful about how we run the risk of the company. Net income for the third quarter of 2022 was $16.1 million, versus net income of $24.2 . 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. In equity markets, we had a strong second quarter, and again, increased volatility produced a strong performance in derivatives. 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. Please proceed. So, I mean, I would just go back to that and we show -- we think through-the-cycle, loss would be for credit cards, C&I and a bunch of other things. We don't like pull in and pull out and go up and go down and go into markets, out of markets through storms. 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. Net interest income jumped 19% to $15.2 billion for the quarter, topping analysts' $14.98 billion estimate. And client investment assets were down 7% year on year, driven by market performance, partially offset by flows. They're doing fine. That's right -- theythink these 10stocks are even better buys. We didn't lose money, great financial recession. The actions reflect Chairman and CEO Jamie Dimon's increasingly cautious stance. I can think we do without affecting our ROTC targets and stuff like that. We still think we have great businesses and stuff like that, and that's what we're going to do. The press release, webcast and presentation materials will be available at www.citigroup.com/citi/investor. How families used the advanced Child Tax Credit. Lending revenue of $410 million was up 79% versus the prior year, driven by gains on mark-to-market hedges as well as higher loan balances. I think we feel comfortable with our risk appetite and our credit box. 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 . Invest better with The Motley Fool. But nonetheless, you got capital general. I wanted to start off with a question on capital targets. In a conference call today after the release of second-quarter earnings, Dimon said his view hadnt changed. And that slightly better-than-expected new client acquisition is a driver there. We expect consumer to be relatively stable, and we'll see how it goes. Membership; Stock Education Menu Toggle. FY Report Date: 12/2022: Last Quarter's Earnings: 2.21: Year Ago Earnings: . "The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy," he said in the earnings release. We've looked at that, too. Contents: . Data is a real-time snapshot *Data is delayed at least 15 minutes. And the mortgage comment you made earlier was about shrinking mortgage growth rates or shrinking the balances of mortgages that you have on the books? Our job is to serve clients through thick or thin, good or bad with what they need, how they need it. 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. Image source: The Motley Fool. And then for [Inaudible] in terms -- yes. 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. Revenue was $80 million versus a loss in the prior year. We prepare for all that, and we're prepared to take it because we grow the business over time. It's inconsistent. The Motley Fool has a disclosure policy. For Q3 of 2022, JPM reported earnings of 3.120/share, with the earnings report taking place on 10/14/2022. 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. And it sounds excellent that I'd like the fact that wages are going up and keep at the low end. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning,. Jamie, you mentioned just on the SCB earlier that you intended to reduce it by reducing the things that caused it to rise. And then just second one on cards. ET. The company is in great shape. That's managing your exposures. Tate & Lyle plc (TATYF) Q2 2023 Earnings Call Transcript Seeking Alpha. 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. Outlook beyond this year, I'm not going to give now. So, first, I just want to point out that on that chart, that's not a forecast for what it is going to be at the end of the quarter. And I'm not saying the Fed says it should or shouldn't. Turning to corporate on Page 8. The financial services provider reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.96 by $0.16. Net Profits: HDFC Bank Ltd's net profit jumped 22.31% since last year same period to 11125.21Cr in the Q2 2022-2023. ET. 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. You underwrite for returns over the cycle. Other notable names . The volatile market resulted in muted issuance in our underwriting businesses. Wells Fargo and Citigroup are expected to post their results Friday and Bank of America and Goldman Sachs are slated for Monday. Bank are enormously probably. This compensation may impact how and where listings appear. 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? We'll manage it again. [Operator Instructions] As a reminder, this call may be recorded. 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. With that, operator, please open up the line for Q&A. Thus, markets revenues (comprising nearly 20% of the company's total . It is analogous togross marginreported by non-financial companies, which is the difference between sales and cost of goods sold. JPMorgan Chase (NYSE: JPM) Q2 2022 Earnings Call Jul 14, 2022, 8:30 a.m. Second-quarter earnings season kicks off this week with several large financial firms - including JPMorgan Chase ( JPM, $114.67) - set to report. I like the fact that jobs are plentiful. JPMorgan Chase Reports First Quarter 2022 Financial Results JPMorgan Chase Reports First Quarter 2022 Financial Results JPMorgan Chase Reports First Quarter 2022 Financial Results Apr 13, 2022 New York - JPMorgan Chase reports first-quarter 2022 net income of $8.3 billion, or $2.63 per share. JPMorgan Chase & Co. , which belongs to the Zacks Banks - Major Regional industry, posted revenues of $30.72 billion for the quarter ended June 2022, missing the Zacks Consensus Estimate by. JPMorgan's quarterly EPS. But as we've been talking about a lot on this call, the priority right now is to build capital. Meaning JPMorgan is always growth-minded. JPMorgan reported third quarter earnings on October 14th, 2022, and results beat expectations widely on both the top and bottom lines. Now, of course, jobs may disappear. Policy Engagement & Political Participation, J.P. Morgan Securities wealth management accounts, general inquiries regarding JPMorgan Chase & Co. or other lines of business. So on card revenue rate, we've said that we thought 10% was a reasonable number for the full year, and it's running a little bit lower right now. Yes. 12.2% | Adv. The story remains true, which is that depending on how QT interacts with RRP and loan growth, in particular, you could see some decline in deposits in the banking system, and we would see our share of that. 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. 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