JPMorgan Beat’s Top and Bottom Lines in Q4 2024

JPMorgan Chase & Co (NYSE: JPM) released its fourth quarter financial results for 2024 today and beat on both top and bottom lines. Analysts were anticipating notable changes in both the company’s earnings per share and revenue compared to the previous year, and the firm continued to deliver.

The company delivered an upside EPS beat opf 19.18%, hitting $4.81 against the expected $4.04 per share. This figure suggested a significant increase of 34.5% compared to the same quarter last year. Despite the anticipated rise in earnings per share, revenue was expected to decline. Analysts predicted Q4 revenue will reach $41.54 billion, marking a 33% year-over-year decrease. The firm came in with a number of $42.77 billion for the period, for a 2.9% beat.

Over the past year, JPMorgan’s stock has performed well, gaining 48.55%. Despite the revenue decline, the overall outlook from analysts remains moderately positive. The stock is up more than 0.5% on the day, down from the early highs of open.

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Five analysts currently maintain Buy ratings on JPMorgan, while three have chosen to issue Hold ratings. The consensus among Wall Street analysts is a Moderate Buy rating for the stock.

Some individual analysts have also shared their forecasts and ratings. For instance, Ebrahim Poonawala of Bank of America Securities has reiterated a Buy rating on JPMorgan stock. Meanwhile, David Konrad at KBW has raised his price target to $257 but maintained a Hold rating.