Positive trend for JPMorgan stock. JPMorgan Chase & Co. (NYSE:JPM). the largest U.S. bank by assets, increased net income by 5.9% to $11,008 billion, or $3.57, in the fourth quarter, up from $10,399 billion, or $3.33, in the same period a year earlier.

• According to the bank’s press release, revenue rose 18% to $34,547 billion from $29,257 billion a year earlier.
• Both figures beat expectations. The average forecast of analysts polled by FactSet called for net income of $3.08 on revenue of $34,353 billion.
• The bank’s net interest income jumped 48 percent to $20.3 billion, and non-interest income was down 8 percent to $15.3 billion.
• Provisions for possible loan losses totaled $2.3 billion last quarter, compared with $1.4 billion the bank released from reserves in October-December 2021.

“The U.S. economy currently remains strong: consumers are still spending and businesses are healthy. Nevertheless, we still do not know the ultimate impact of negative factors caused by geopolitical tensions, vulnerable energy and food supplies, persistently high inflation that undermines purchasing power and raises interest rates, and unprecedented monetary tightening,” said JPMorgan Chief Executive Officer Jamie Dimon, who is quoted in the report.

While previously reported JPMorgan layoffs, revenue at JPMorgan’s retail unit (CCB) in the fourth quarter rose 29% to $15,843 billion and net income was up 10% to $4.542 billion. Corporate Investment Bank (CIB) revenue was down 9% to $10,548 billion and net income was down 27% to $3,328 billion. The bank situation also had a positive effect on T-Bond Futures. 

The commercial banking division recorded a 15% increase in net income to $1,423 billion, while revenue soared 30% to $3,404 billion.

In asset management, JPMorgan’s October-December revenue was $4,588 billion, up 3% from the same period in 2021. Assets under management at the bank fell 11% to $2.8 trillion.

JPMorgan stock prices were down in premarket trading on Friday. The bank’s market value has fallen more than 17% (to $409.6 billion) over the past year, while the Standard & Poor’s 500 stock index is down 14.5%.

Earlier, we reported that TSMC plans to cut costs to stop the drop in sales.