Tax Reform Leaves Gives JP Morgan Extra $4B – Here’s How They Plan To Spend It

image

JPMorgan Chase & Co. JPM

Financials – Diversified Financial Services|July 13th BMO

JPMorgan Chase & Co. is set to release their FQ2’18 earnings Friday before the market opens. Estimize consensus projects an EPS of $2.28, a 31% YoY growth, while Wall Street predicts an EPS of $2.24. Estimize is more accurate than Wall Street on JPM EPS predictions 67% of the time. We anticipate a revenue of $27.821B, while Wall Street expects JPM to report $27.664B in revenue.

image

JP Morgan will gain $4B in annual profits as a result of the U.S. corporate tax break that reduces their taxes from 35% to 21%. They plan to use this money to raise employee salaries, open 400 new branches, and increase lending to small businesses. The company also plans to buy back up to $20.7B in stock. The bank has increased its dividend from 56 to 80 cents. Lastly, the company has launched Finn, a user-friendly mobile application for managing personal finances marketed towards millennials.

Disclosure: There can be no assurance that the information we considered is accurate or complete, nor can there be any assurance that our assumptions are correct.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.