JPMorgan Chase Q1 Results Beat Market, AUM Climbs; Stock Up In Pre-market

JPMorgan Chase

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(RTTNews) - JPMorgan Chase & Co. (JPM) reported Friday higher profit and revenues in its first quarter, both above market estimates, along with increased assets under management.

In the pre-market activity on the NYSE, the shares were gaining around 3 percent to trade at $234.00.

In the quarter, net income grew 9 percent to $14.64 billion from last year's $13.42 billion. Earnings per share increased 14 percent to $5.07 from $4.44 last year.

The Wall Street analysts on average expected the company to report earnings of $4.64 per share. Analysts' estimates typically exclude special items.

Net revenue grew 8 percent to $45.31 billion from last year's $41.93 billion. On a managed basis, revenues increased 8 percent to $46.01 billion from last year's $42.55 billion.

The Street was looking for revenues of $44.1 billion for the quarter.

Net interest income was $23.4 billion, up 1 percent. Noninterest revenue was $22.6 billion, up 17 percent.

The provision for credit losses was $3.3 billion, a growth of 75 percent from last year's $1.88 billion.

Assets under management or AUM grew 15 percent from last year to $4.1 trillion, driven by continued net inflows and higher market levels.

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