JP Morgan among the first of the major banks to release their Q4 earnings
- EPS $1.07; adjusted EPS $1.76
- Investment banking revenue $1.64bn vs $1.66bn expected
- FICC sales and trading revenue $2.22bn
- Equities sales and trading revenue $1.15bn
- Q4 adjusted revenue $25.45bn vs $25.51bn expected
Fixed income trading revenue fell by 34% against prior year results, and even excluding the impact from the charge from the tax bill, it’s still a 27% drop — more than the 19% analysts were expecting.
Shares are about 1.0% lower in pre-market trading.