{"id":15679,"date":"2023-09-06T12:34:31","date_gmt":"2023-09-06T16:34:31","guid":{"rendered":"https:\/\/desis.osu.edu\/seniorthesis\/?p=15679"},"modified":"2023-09-10T21:10:42","modified_gmt":"2023-09-11T01:10:42","slug":"jpmorgan-chase-raises-key-revenue-target-to-84-billion-after-first-republic-takeover","status":"publish","type":"post","link":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/2023\/09\/06\/jpmorgan-chase-raises-key-revenue-target-to-84-billion-after-first-republic-takeover\/","title":{"rendered":"JPMorgan Chase raises key revenue target to $84 billion after First Republic takeover"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/05\/22\/jpmorgan-chase-jpm-investor-day.html\" data-type=\"link\" data-id=\"https:\/\/www.cnbc.com\/2023\/05\/22\/jpmorgan-chase-jpm-investor-day.html\">Link<\/a><\/p>\n\n\n\n<p>&#8220;<\/p>\n\n\n\n<p>The bank will generate about $84 billion in net interest income this year, New York-based JPMorgan said Monday in\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.jpmorganchase.com\/content\/dam\/jpmc\/jpmorgan-chase-and-co\/investor-relations\/documents\/events\/2023\/jpmc-investor-day-2023\/firm-overview.pdf\" target=\"_blank\">slides<\/a>\u00a0for an all-day investor\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.jpmorganchase.com\/ir\" target=\"_blank\">presentation<\/a>.<\/p>\n\n\n\n<p>That\u2019s $3 billion higher than\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.jpmorganchase.com\/content\/dam\/jpmc\/jpmorgan-chase-and-co\/investor-relations\/documents\/quarterly-earnings\/2023\/1st-quarter\/dff65b34-7980-4e70-be70-1ff6d9466df4.pdf\" target=\"_blank\">guidance<\/a>\u00a0given in April. At the time, JPMorgan raised its net interest income outlook by $7 billion, a move that spurred JPMorgan\u2019s biggest earnings day\u00a0<a href=\"https:\/\/www.cnbc.com\/2023\/04\/14\/jpmorgan-chase-jpm-earnings-1q-2023.html\">stock bump<\/a>\u00a0in 20 years.<\/p>\n\n\n\n<p>The bank added that \u201csources of uncertainty\u201d around deposits and the economy could impact its forecast. Net interest income is the difference between what banks earn from loans and investments and what they pay to depositors.<\/p>\n\n\n\n<p>JPMorgan, the biggest U.S. bank by assets, has emerged as a beneficiary of the recent regional banking tumult. It was one of the only banks to see deposits climb in the first quarter as panicked customers sought safety at big institutions; then it won a weekend\u00a0<a href=\"https:\/\/www.cnbc.com\/2023\/04\/29\/first-republic-frc-jpmorgan-chase-bank-of-america-asked-for-bids.html\">auction<\/a>\u00a0for First Republic, a move expected to boost earnings and advance its push for wealthy clients.<\/p>\n\n\n\n<p>Trading and investment banking revenue in the second quarter is headed for a 15% decline compared with the year-earlier period, the bank said.<\/p>\n\n\n\n<p>&#8220;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>Analysis &#8211; <\/p>\n\n\n\n<p>&#8220;The bank added that \u201csources of uncertainty\u201d around deposits and the economy could impact its forecast.&#8221; <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>&#8220;This statement is somewhat upsetting, as JPMorgan Chase made $84 billion in interest income this year. Their business is anticipating making less because of the predicted economic forecast, so unfortunately they won&#8217;t be able to make more money off of people&#8217;s debts.&#8221; &#8211; Easton Nguyen<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Link &#8220; The bank will generate about $84 billion in net interest income this year, New York-based JPMorgan said Monday in\u00a0slides\u00a0for an all-day investor\u00a0presentation. That\u2019s $3 billion higher than\u00a0guidance\u00a0given in April. At the time, JPMorgan raised its net interest income outlook by $7 billion, a move that spurred JPMorgan\u2019s biggest earnings day\u00a0stock bump\u00a0in 20 years. [&hellip;]<\/p>\n","protected":false},"author":112,"featured_media":15680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":{"0":"post-15679","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts\/15679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/users\/112"}],"replies":[{"embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/comments?post=15679"}],"version-history":[{"count":3,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts\/15679\/revisions"}],"predecessor-version":[{"id":16029,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts\/15679\/revisions\/16029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/media\/15680"}],"wp:attachment":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/media?parent=15679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/categories?post=15679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/tags?post=15679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}