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JPMorgan Beats, As Revenue Tops Highest Estimate, FICC Good Enough
After posting the first profit miss in 15 quarters during Q4, JPMorgan looks to have turned in an ostensibly better set of numbers for Q1.
Adjusted revenue for the first quarter rose 5% to a record $29.85 billion, topping even the highest analyst estimate and well ahead of consensus ($28.36 billion). Q1 EPS was $2.65. ROE in Q1 was the highest since 2007. NII hit a record $14.5 billion in Q1, helped along by Fed hikes.
You'll recall that FICC was a disaster last quarter. Specifically, Q4 FICC
