JPMorgan Q4 Earnings Blow Past Expectations on Strong Consumer, Markets

JPMorgan Chase's (NYSE:JPM) earnings blew past expectations in the final quarter of 2019, rising 30% from a year earlier to $2.57 a share, a full 10% above consensus forecasts. Revenue likewise far exceeded expectations, rising 9% on the year to $29.21 billion. Analysts polled by Investing.com had anticipated EPS of $2.35 on revenue of $27.87 billion. The results were helped by an 8% increase in consumer loans, reflecting the sustained strength of U.S. spending. “The U.S. consumer continues to be in a strong position and we see the benefits of this across our consumer businesses,” chairman and CEO Jamie Dimon said in a statement. The bank’s corporate and investment bank also chipped in handily, with total markets revenue rising 56% on the year to $5.0 billion.