Inside the Earnings
JPM reported earnings of $4.9 billion, or $1.19 per share, down 6.6% from $5.3 billion, or $1.30 per share, last year. Revenue was $23.6 billion, down from $24.1 billion last year. Analysts expected to see EPS of $1.31 and $23.64 billion in revenue.
Wells Fargo
Earnings were $5.7 billion, or $1.02 per share, up from $5.6 billion, or $1 per share, last year. Revenue came in at $21.4 billion, compared to last year’s Q4 revenue of $20.7 billion. Analysts expected to see revenue of $21.2 billion and EPS of $1.02.
Earnings Season for the Big Banks
So far, JPM has taken the biggest hit following its earnings release, falling nearly 4% on Wednesday morning. JPM’s profit was negatively impacted by legal expenses. On the flip side, WFC has benefited from an improved mortgage business.
Mutual Funds to Watch
JP Morgan
Symbol | Mutual Fund | Stake |
---|---|---|
VTSMX | Vanguard Total Stock Market | 1.68% |
VFINX | Vanguard 500 Index | 1.08% |
MEIAX | MFS Value | 0.65% |
Symbol | Mutual Fund | Stake |
---|---|---|
VTSMX | Vanguard Total Stock Market | 1.68% |
FCNTX | Fidelity® Contrafund® | 1.36% |
VFINX | Vanguard 500 Index | 0.98% |