(AOF) – JPMorgan published results above expectations, but its interest income disappointed. In the first quarter, the American bank recorded a 6% increase in net profit to $13.42 billion, or $4.44 per share. Earnings per share beat consensus at $4.17. JPMorgan recorded in its accounts a charge of $725 million, which is intended to participate in the bailout of the American agency guaranteeing bank deposits in the United States.
The FDIC had to intervene after the bankruptcy of several regional banks in 2023.
Revenue rose 9% to $41.93 billion, buoyed by interest income rising 11% to $23.08 billion, compared to Wall Street’s target of $23.13 billion. The market was targeting $41.69 billion in revenue at the group level.
JPMorgan forecasts $90 billion in interest income this year.
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