Dimon Warns On Risky World As NII Beat Offsets Otherwise Mixed Quarter

JPMorgan kicked off earnings season in the US with what looked like a mixed set of results. $39.94 billion on the top-line was a miss, and EPS of $3.04 was well short of consensus too. A 15% decline in reported net income (-21% excluding First Republic) was primarily due to the $2.9 billion FDIC special assessment. That cost JPMorgan $0.74 in EPS. That's the price to Jamie Dimon, and JPMorgan shareholders, of the government protecting uninsured depositors during March's regional banking turmoi