
JPMorgan kicks off earnings season with bad news
CNN
JPMorgan Chase kicked off earnings season Wednesday with some bad news: First-quarter profit fell 42% from a year ago, driven lower by Russia's invasion of Ukraine, high levels of inflation and supply chain problems.
The largest US bank by assets is often viewed as a bellwether for the rest of Wall Street. JPMorgan (JPM) posted a profit of $8.3 billion, or $2.63 per share in the first quarter of 2022, compared with $14.3 billion, or $4.50 per share the year prior.
Analysts expected earnings of $2.69 per share, according to Refinitiv.
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