JPM reported a solid result on Friday that beat estimates on higher-than-expected revenue, helped by booming equity trading activity. Higher asset management, investment banking fees, and the strong trading results helped the increase in revenue. We question if local investment bank Macquarie (MQG) can replicate the results on their trading desk. The numbers from the giant bank, which is about 4x larger than CBA by market cap., were impressive:
- Revenue rose 8% to $46.01 billion, a more than 4% beat.
- First-quarter profit rose 9% to $14.64 billion.
While JPMorgan CEO Jamie Dimon was pleased with his company’s solid quarter results, he also cautioned about the broader economy in the current uncertain climate—he is 50% sure the US will fall into recession in 2025/6.
MM is cautiously bullish JPM
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