Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:

The information you requested is not available at this time, please check back again soon.

More Video

Jul 16, 2019

JPMorgan slips after net interest income outlook cut

JPMorgan Tops Q2 Revenue, Cuts Net Investment Income Outlook


Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

JPMorgan Chase & Co.’s (JPM.N) shares are slipping about 1.7 per cent in pre-market trading after the bank cut its net interest income, or NII, view. JPMorgan now sees year NII of about US$57.5 billion; previously, it saw at least US$58 billion.

After Citigroup Inc.’s net interest margin missed estimates on Monday, analysts had worried about other banks’ results. Evercore ISI’s Glenn Schorr told investors not to have a “false sense of security for the lower NII adjustments coming for the rest of the group.” Goldman Sachs Group Inc. and Wells Fargo & Co. are due to report Tuesday morning as well.

Embedded Image

JPMorgan’s second-quarter results weren’t all bad. Adjusted earnings per share of US$2.59 topped estimates of US$2.50. And, the bank continues to see “positive momentum with the U.S. consumer -- healthy confidence levels, solid job creation and rising wages -- which are reflected in our Consumer & Community Banking results,” CEO Jamie Dimon said in the earnings statement. Double-digit credit card sales and merchant processing volume growth reflected “healthy consumer spending.”