JPMorgan Chase, the nation’s biggest bank by assets revealed 2Q earnings per share of $2.82 on managed revenue of $29.57 billion. It is not known right away if the numbers are comparable. Analysts expected profit per share of $2.50 on revenue of $28.9 billion.
Quarterly profit rose 16 percent on higher net interest income and a tax gain.
The bank reported lower equity trading activity.
Jamie Dimon, Chairman and CEO, commented on the financial results:
“We had a strong second quarter and first half of 2019, benefitting from our diversified global business model, said Jamie Dimon, Chairman and CEO. “We continue 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.”
The bank earned a profit of $2.29 per share during the same period a year ago on revenue of $28.39 billion.
In this year’s first-quarter, earnings per share came in at $2.37 on revenue of $28.5 billion.
“We were pleased to announce a meaningful increase to our dividend and repurchases, said Dimon. ” While we always prefer to invest capital back into the business, our capital plan provides us with the capacity and flexibility to return excess capital to our shareholders.”
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