Q2 earnings season officially started just before 7am ET when JPM reported earnings which, as expected, trounced expectations primarily on the back of generous contributions from the First Republican FDIC/taxpayer bailout-cum-gift, which has helped push the bank’s net interest income that much closer to a mindblowing $100 billion.
Here is what JPM reported for Q2: Reported revenue of $41.3BN and Adj. Revenue $42.40BN, both beating consensus est of $39.34BN, both record high This was boosted by a record $21.8 billion in net interest income , but it was the massive $2.7 billion gain from the First Republic taxpayer gift that […]
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