JPMorgan Chase concluded 2024 with record-breaking profitability, supported by strong performances across its various business lines. The bank's strategic initiatives, focus on innovation, and operational efficiency have positioned it as a leader in the financial services sector. CEO Jamie Dimon emphasised the US economy’s strength while acknowledging challenges such as persistent inflation and geopolitical risks. However, the bank achieved strong results, maintaining its commitment to delivering shareholder value.
Fourth Quarter 2024:
● Net Revenue (Managed): $43.74 billion, up 10% from a year ago.
● Net Income: $14 billion, a 50% increase from Q4 2023.
● Earnings Per Share (EPS): $4.81, up 58% year-over-year.
● Return on Equity (ROE): 17%.
Full-Year 2024:
● Net Revenue (Managed): $180.60 billion, up 7% year-over-year.
● Net Income: $58.50 billion, a record high.
● Adjusted EPS: $18.22, reflecting operational excellence.
● Book Value Per Share: $116.07, up 11%.
JPMorgan closed the week at a new record high of $260.62, reflecting investor confidence in its strong performance and strategic positioning. Analysts maintain an average "Buy" rating on the stock, with an average price target of $267.50, according to FactSet. The consensus highlights the bank’s strong and diversified revenue streams, with particular praise for its growth in investment banking, asset management, and payments, which remain key drivers of its success.
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** This article was prepared by BROKSTOCK analyst Maboko Seabi
