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A new earnings season is upon us!
Let's visualize the performance of 7 companies that reported their earnings this week.
We’ll dive deeper into US Banks’ earnings next week once they have all reported.
Today at a glance:
🏦 JPMorgan: Raised NII Outlook
📉 Wells Fargo: Fees To The Rescue
🥤 PepsiCo: Subdued Spending
📈 Blackrock: $11.5 Trillion in AUM
🛩️ Delta Airlines: Outage Impact
🍕 Domino’s Pizza: Hungry for More
🌿 Tilray: Further Legalization Ahead
1. 🏦 JPMorgan: Raised NII Outlook
JPMorgan Chase exceeded expectations in Q3 2024, reporting a surprise 3% increase in net interest income (NII) to $23.4 billion and raising its full-year NII forecast to $92.5 billion (previously $91 billion). The bank saw continued strength in consumer spending and a resilient US economy. Still, it increased its provision for credit losses to $3.1 billion, primarily for credit cards, signaling a degree of caution about future loan performance.
The Commercial & Investment Bank segment was the quarter's highlight, growing 8% to $17 billion. The key driver? Investment banking fees surged by 31% to $2.3 billion, boosted by strong dealmaking and capital market activity. Despite these positive results, CEO Jamie Dimon expressed caution about the economic outlook, citing geopolitical risks and other challenges.