JPMorgan Chase & Co. (NYSE:JPM) shares are trading higher premarket after it reported third-quarter FY24 results.
Reported revenue rose 7% year-on-year to $42.654 billion, beating the consensus of $41.649 billion. Net revenue (managed) stood at $43.3 billion (+6% Y/Y) in the quarter.
Consumer & Community Banking (CCB) revenue declined 3% Y/Y to $17.791 billion, and Commercial & Investment Banking was $17.015 billion (+8% Y/Y) in the quarter.
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Investment Banking revenue was $2.4 billion, up 29%. Investment Banking fees rose 31% year over year, led by higher fees across all products.
Asset and Wealth Management (AWM) revenue was $5.4 billion (+9% Y/Y), and Corporate revenue stood at $3.07 billion (+97% Y/Y) in the quarter.
In AWM, Assets under management (AUM) stood at $3.9 trillion, and, client assets stood at $5.7 trillion (up 23%), driven by higher market levels and continued net inflows.
Net interest income increased by 3% Y/Y to $23.5 billion and +1% Y/Y, excluding Markets. Noninterest revenue was $19.8 billion, up 11% Y/Y, in the quarter.
Noninterest revenue, excluding Markets, rose 17% to ...
