<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Wells Fargo and JPMorgan Chase reported their first-quarter earnings results on Friday, surpassing analysts’ expectations on both <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">earnings per share</a> and revenue. <br><br>Wells Fargo <a href="https://tokenist.com/wells-fargo-exceeds-q1-expectations-sets-optimistic-outlook/" rel="noopener noreferrer nofollow" class="deco-link">posted</a> an adjusted EPS of $1.26, beating the anticipated $1.11, while <a href="https://tokenist.com/jpmorgan-chase-reports-strong-start-to-2024-with-record-earnings-and-strategic-growth/" class="deco-link" rel="noopener noreferrer nofollow">JPMorgan’s EPS</a> stood at $4.44, with a total profit of $13.42 billion. Wells Fargo’s revenue reached $20.86 billion, exceeding the projected $20.20 billion, and JPMorgan’s full-year net interest income forecast was adjusted to $89 billion.</p>
<h3 id="wfc-jpm-report-decline-in-net-interest-income-for-q1">WFC, JPM Report Decline in Net Interest Income for Q1</h3>
<p>Despite the strong earnings, both <a href="https://tokenist.com/three-banking-stocks-to-hold-for-2024/" rel="noopener noreferrer nofollow" class="deco-link">banks</a> experienced a decline in net interest income. Wells Fargo saw an 8% decrease due to higher funding costs and a shift to higher-yielding deposit products. JPMorgan’s net interest income for Q1 was $23.1 billion, an 11% increase from the previous year but a decrease from last quarter’s $24 billion.</p>
<p>Wells Fargo’s net interest income decline was anticipated due to environmental pressures, but the bank outperformed some cautious estimates thanks to other income offsets. <br><br>On the other hand, JPMorgan’s net interest income precisely matched analysts’ expectations, indicating accurate market predictions and aligning with the bank’s guidance.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="wells-fargo-and-jpm-stocks-dip-in-premarket">Wells Fargo and JPM Stocks Dip in Premarket</h3>
<p>In <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">pre-market trading</a>, Wells Fargo’s stock opened at $56.98 and dipped to $56.50 at the time of writing, a decrease of about 0.34%, while JPMorgan’s stock dropped from a close of $195.43 to $190.83, a 2.35% decrease. <br><br>Throughout the day, Wells Fargo’s stock fluctuated between $55.62 and $57.00, while JPMorgan traded from $193.24 to $196.57.</p>
<p>Year-to-date, Wells Fargo’s stock has increased more than 15%, outperforming the S&amp;P 500’s 9% gain. JPMorgan’s stock movement, on the other hand, reflected broader market trends and was notably influenced by net interest income forecasts.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/jpm-wfc-q1-earnings-beat-overshadowed-by-net-interest-income-concerns/">JPM, WFC Q1 Earnings Beat Overshadowed by Net Interest Income Concerns</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

JPM, WFC Q1 Earnings Beat Overshadowed by Net Interest Income Concerns

Table of Contents

Tokenist

Other articles published on Apr 12, 2024

BingX exchange openly supports Iranian users, defying sanctions

Berachain Raises $100M In Funding, Surpassing Earlier Expectations

Bitcoin Braces for Bull Run, Altcoin Season to Follow

UK Businesses Identify 5G Connectivity as Essential for Economic Growth, Says Report

5 Tokens That Can Outperform Solana's Growth in 2024

BlackRock's Bitcoin ETF Records $192 Million Worth of Inflows

Join our free newsletter for daily crypto updates!