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JP Morgan rises despite entering and earning less than expected in the quarter


JP Morgan It rebounded more than 1.5% this Tuesday after being one of the companies that has opened the ban on quarterly business results. The US bank has closed the beginning of the year with $ 29 billion in revenue (compared to the estimated 29,700) and a EPS of $ 0.78 (compared to the 1.84 that analysts anticipated).

The rise in the price of the entity may be due to the fact that, precisely as a result of the crisis and the volatility of the markets, JP Morgan has published a record number of income from operations (trading).

"JP Morgan has done well in what has been a very difficult and unique ecosystem," defended its CEO, Jamie Dimon. "The underlying results of the firm in the first quarter have been extremely good but provisional $ 6.8 billion has been necessary given the high probability of a severe recession," he added.

"This first quarter has presented some unprecedented challenges that have required us to focus on what we as a bank can do to stay strong, resident and remain well positioned to maintain support for all of our shareholders," Dimon said.

In the last three months, the stock has dropped more than 29% compared to the losses of 19.2% that The Dow Jones accumulates in that same period.

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