During the week, the banking giant will present its revenue guidance, which, according to its updates, will exceed forecasts for the period.
JP Morgan prevails over other financial institutions on Wall Street. This week the bank must present its report on quarterly earnings and expected to report seven times faster revenue growth than the average of its competitors.
It should be noted that the stock of the banking giant has risen more than 19% in the last six months and 8.5% in the last month. Contrary to banks like Wells Fargo, Citigroup and Bank of America, which are expected to present falling profitability, the growth outlook for JP Morgan is very optimistic.
In this way, next Friday, JP Morgan’s absolute dominance is expected to be established when it presents its balance sheet, which is expected to exceed its net interest income guidance for the period, which will pave the way for a possible increase in its objective in the medium term of US$80,000 million for metricsso it is expected not to face problems this year at a time when the United States Federal Reserve ratifies the path to 2% inflation and some cuts in interest rates throughout 2024.
Jp Morgan vs other banks
In contrast, net income at both Bank of America and Wells Fargo could contract in the fourth quarterbut higher asset yields should begin to offset funding cost pressures for lenders this yearaccording to the Bloomberg agency.
Meanwhile, it is expected that the income of Citigroup for the year they are also in decline. For its part, the net flows of blackrock They could lose 58% compared to the same period of the previous year. Meanwhile he Bank of New York Mellon could see its first decline in revenue since the second quarter of 2021.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
