JPMorgan Misses 1Q Estimates, Share Price Plummets

Discussion in 'Stock Market Forum' started by PaulSchinider, Apr 11, 2014.

  1. PaulSchinider

    PaulSchinider Well-Known Member

    Mar 2014
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    JPMorgan Chase & Co. misses revenue and earnings estimates for the quarter, increases dividends, and announces $6.5 billion share repurchase program

    JPMorgan Chase & Co. (JPM) reported results for the first quarter of fiscal 2014 (1QFY14; ended, March 31) before the opening bell today. The stock price of the New York City-based diversified bank is down almost 3% as of 11:25 AM EDT.

    JPMorgan Misses Expectations

    The company reported revenues of $23.86 billion, missing analysts’ estimates of $24.49 billion by 2.57% and declining 7.7% year-over-year (YoY). Quarterly profits of $5.27 billion (EPS of $1.28) fell 19.5% from the same period a year ago. They missed analysts’ expectations of $1.46 by 12.33%.

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