The Future Market Outlook for JPMorgan Chase & Co (NASDAQ:JPMN)

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By Stefan Larson on October 14, 2014 Us News

JPMorgan Chase & Co (NASDAQ:JPMN) has posted its third quarter earnings. According to the report, the company’s profit was the highest yet earned by a trading and investment company in the U.S. In the third quarter of the last year, the company had been pushed into a position of loss. This profit helped JPMorgan Chase & Co (NASDAQ:JPMN) recover.

The bank released some figures on a website. They said that the net income was $5.6 billion on Tuesday, which is equivalent to $1.36 for a share. Compare this with the loss worth $380 million in the same quarter previous year. The analysts’ estimate was $1.38 for each share. The shares had fallen by 1.7% in the morning trade.

CEO JPMorgan Chase & Co (NASDAQ:JPMN) Jamie Dimon said that the company has shown very good and strong performance in terms of fees. The company has strived to maintain its top position in the global investment fees. The company’s particular strength lies in equity capital markets. The CEO was happy with the performance of the company particularly in emerging markets and currencies.

This was the first financial report of the company ever since the CEO received chemotherapy and radiation treatment for cancer in throat. There are questions in the minds of many regarding the possible new CEO, should Dimon decide to step down. However, Dimon has said that his prognosis is good.

Last year, the government held allegations against the company saying that it was involved in wrongdoings relevant to mortgage instruments. As a result, the company was forced to pay about $7.2 billion. The latest results also include legal expenses worth $1 billion, besides taxes. JPMorgan Chase & Co (NASDAQ:JPMN) expects its expenses in the current fiscal to be worth $58 billion, which does not include legal costs. In 2013, the expenses were worth $59 billion.

The revenue generated from currency, commodity and fixed-income increased by 2.1 percent and arrived at $3.51 billion in the recent quarter. This was slightly higher than the revenue in the previous quarter.

In September, the market activity increased because of the efforts of the European Central Bank to stimulate growth. A batch of data also showed that the economy of the country was strengthening. In late September, the activity in bond market increased because Bill Gross, from Pimco, the bond trading giant, decided to leave the market.

Simon Maughan, an analyst from OTAS London said that the growth of JPMorgan Chase & Co (NASDAQ:JPMN) is modest and the results are lower than expectations, still, the company is very stable. That’s the most important thing for a bank. The bank did not give details about the expenses on the attack on their computers that lead to an exposure of 83 million small-businesses and households’ information.

A very embarrassing event for the company was its release of results before their time. All the explanation that the company offered for this was that an error had occurred on the website where the results were to be posted.