Notifications Bell

Mixed earnings for the American banks

Mixed earnings for the American banks

The pandemic took a swing at the American banks.

Big Day for some American banks as they released their financial reports. According to specialists, the banking sector should be in the right spot since it benefited from the volatility caused by the Federal Reserve's actions, and low-interest rate. However, the actual results were mixed.

JP Morgan Chase

JP Morgan Chase was the first to arrive at the party, as the biggest US bank by assets. It revealed earnings of $4.69 billion, which translate to an EPS of $1.38. The figures exceeded the expected $1.04. However, it’s still lower than the result posted in the same quarter last year, when the bank reported earnings worth of $9.65 billion and EPS of $2.82.

JP Morgan Chase revenue came at $33.82 billion, outperforming the $30.3 billion consensus. The share price gained 4% in pre-market trading. Overall, the share price dropped by 30%, while USA30 lost 8.6%.


Citigroup exceeded the analysts’ expectations of $18.8 billion, by reporting revenue of $19.8 billion. The net income fell to $1.3 billion, from a previous $4.8 billion. This translates into an EPS of 50 cents.

The bank’s shares gained roughly 12% in the last quarter. In today's pre-market, it went up 1.5%. However, the stocks have fallen 34.7%, while USA30 had a drop of 8.6%. USA500 slid 2.3%.

Wells Fargo

Wells Fargo reported a net income of $9.9 billion, which is low compared to last year's $12.1 billion and the $10.3 billion consensus. Its revenue fell to $17.8 billion, from $21.58 billion a year ago, and the expected $18.4 billion. The losses per share overcame the earnings. The Q2 loss per share came at 66 cents, more than half of last year’s $1.30 EPS. Moreover, it is the only American bank that had to cut its dividends to 10 cents from a previous 51 cents/share.

In the pre-market session, the stocks dived 3.7%. In the last quarter, the stock price fell by 19.2%, while USA500 added 10.9%.

Stay updated with the latest financial reports with!


Informațiile prezentate în acest document sunt pregătite de și nu au intentia de a constitui consultanță pentru investiții. Informațiile din acest document sunt furnizate drept o comunicare generală de marketing cu scop informativ și, ca atare, nu au fost pregătite în conformitate cu cerințele legale concepute pentru a promova independența cercetării în domeniul investițiilor și nu sunt supuse niciunei interdicții de abordare înainte de diseminarea cercetărilor legate de investiții.

Utilizatorii/cititorii nu ar trebui să se bazeze exclusiv pe informațiile prezentate aici și ar trebui să facă propriile lor cercetări/analize, prin citirea cercetărilor de bază. Conținutul acestui document este generic și nu ia în considerare circumstanțele personale ale fiecărui individ, experiența de investiții sau situația financiară actuală.

Prin urmare, Key Way Investments Ltd nu va accepta nicio responsabilitate pentru eventualele pierderi ale traderilor datorate utilizării conținutului sau a conținutului informațiilor prezentate în acest document. Performanțele trecute și previziunile nu sunt indicatori fiabili ai rezultatelor viitoare.