Here's What Powered JPMorgan Chase to a Pair of Third-Quarter Beats

Last Friday, you could almost hear a collective sigh of relief from the stock market and from economists after JPMorgan Chase (NYSE: JPM) published its third-quarter results. The company is the largest bank in this country, which is saying something given the massive size and the heft of our economy. So how it performs is often seen as something of a bellwether not only for the wider banking sector, but for American business generally.Happily for people who view it that way, JPMorgan Chase's quarterly performance was very good. That, combined with the subsequent third-quarter earnings beats delivered by fellow Big Four banks Wells Fargo, Bank of America, and Citigroup, only helped to boost confidence in the U.S. financial system. Let's put JPMorgan Chase's quarter under the microscope to discover what underpinned the leading lender's success. The quarter saw JPMorgan Chase amass more than $42.6 billion in revenue, for year-over-year improvement of 7%. That filtered down into net interest income (NII), which is the crucial metric measuring a bank's take on interest-bearing assets, of $23.5 billion. That was 3% higher than in the comparable period of 2023. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool