Investing.com -- JPMorgan Chase & Co (NYSE:JPM) reported record revenues in the third quarter, as a strong performance by its investment bank and its credit card business more than compensated for a slowdown in home loans. Chief executive Jamie Dimon said that "the consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels." However, he acknowledged that the U.S. economy had slowed "slightly", citing "weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade."
Key points:
- 3Q19 net income of $9.1B and EPS of $2.68, vs $2.45 forecast
- Revenue $30.06 billion, vs $27.82 billion in 3Q 2018
- Return on tangible common equity 18% vs 20% in previous quarter
- Markets revenue up 14% on year at $5.1 billion
- Provision for credit losses $1.52 billion, up 60% on year