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Shares in US banking firm JP Morgan are trading over 2% higher pre-market on Monday. Buyers continue to show demand for the stock following a solid Q2 earnings release. JP Morgan posted earnings of $1.38 per share last month, firmly beating Wall Street estimates of a $1.04 EPS. The bank also posted revenues of $33 billion, beating estimates of $30.3 billion.
Dimon Notes Uncertainty in Outlook
Commenting on the results, JP Morgan CEO Jamie Dimon said:
“Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy. However, we are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm.”
Dimon’s message of uncertainty is one that has been shared by many CEO’s during this latest earnings season. While the COVID-19 virus has calmed down to a large extent, there is still a great deal of concern over the prospect of a further severe...
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