JPMorgan Chase & Co. (JPM) is slated to announce its quarterly earnings on January 13, 2012. The company is expected to announce lower than expected quarterly numbers on account of market weakness and higher litigation expenses. The company results are also likely to be constrained by decrease in mortgage banking business. JPMorgan is expected to release its reserves, which may help in providing fillip to quarterly numbers.
Expectations
JPMorgan Chase is expected to report its earnings for the fourth quarter of the year at $0.93, down from $1.0 per share in earnings it had reported for the third quarter of the year. The company is likely to announce its quarterly revenue at $23 billion, down from $26 billion in revenue it had reported for the fourth quarter of the previous year. The banking company's revenue for the third quarter of the year was reported at $e3.7 billion.
Third Quarter Results
JPMorgan had announced its third quarter net income at $4.26 billion, whereas its non-interest income for the quarter was reported at $11.946 billion. For the fourth quarter, non-interest income is likely to stand at $11.6 billion. JPMorgan's net interest income for the third quarter of FY2011 stood at $11.817 billion. The banking company reserved $2.4 billion in provision for loan losses. The corresponding figure for fourth quarter of the year has been pegged at $e billion.
Earnings History
JPMorgan has been reporting lower earnings. The banking company had reported its per share earnings for the third quarter of the year at $1.02, which is lower than $1.12 in earnings per share it had reported for the fourth quarter of the previous year.
iStock PunchJPMorgan Chase is likely to suffer from reduction in its Net Income Margin. The company's investment banking is also expected to announce lower than expected results. JPMorgan Chase's Private equity unit is also performing below par impacting its overa! ll busin ess results. However, its commercial loan disbursements are showing positive trend. JPMorgan Chase is also improving its Non Performing Assets and Net Charge Off position.
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