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Jpmorgan Chase Sees Income, Revenue Gains In Q1

12.04.2024 18:42

Geopolitical tensions, persistent inflationary pressures, quantitative tightening remain as uncertain forces, says CEO.

US-based multinational financial services company JPMorgan Chase saw its net income and revenue increase in the first quarter of this year, according to its financial results statement released Friday.

JPMorgan Chase posted a net income of $13.4 billion in the January-March period, up 6.3% from $12.6 billion during the same period last year.

Net revenues saw an increase of 9.4% to $41.9 billion, from $38.3 billion year-on-year.

Chairman and CEO Jamie Dimon said although many economic indicators continue to be favorable, the company "remains alert to a number of significant uncertain forces."

Those include growing geopolitical tensions, persistent inflationary pressures, and quantitative tightening.

"We do not know how these factors will play out, but we must prepare the Firm for a wide range of potential environments to ensure that we can consistently be there for clients," he said in the statement.

Despite gains in income and revenue, JPMorgan Chase's stock price was down 5.9% at 11.12 am EDT on the New York Stock Exchange. -

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