Investing.com - JP Morgan Chase (NYSE:JPM), the largest U.S. bank, reported stronger-than-expected second quarter earnings and revenue ahead of Tuesday’s opening bell, sending its shares higher in pre-market trade.
JP Morgan said adjusted earnings per share came in at $1.54 in the three months ended June 30, up from $1.46 a share a year earlier and above expectations for adjusted earnings of $1.44 a share.
The bank’s revenue totaled $24.53 billion in the April-to-June quarter, beating estimates for revenue of $24.5 billion.
Jamie Dimon, Chairman and CEO, commented on the financial results, "Our Company had strong results this quarter, and each of our businesses performed well, with broad and consistent underlying growth. This quarter was another example of the power of our platform and risk discipline, and of being there for our clients as we always are in good times and in volatile markets."
Traders will now turn their attention to the bank’s conference call due to start at 8:30 a.m. Eastern Time.
Following the release of the report, shares in JPM rose 1.47% in pre-market trade to trade at $69.05 from Monday's closing price of $68.05.
Meanwhile, U.S. equity markets pointed to a flat open. The Dow futures pointed to a drop of 0.1%, the S&P 500 futures shed 0.05%, while the Nasdaq 100 futures inched up 0.05%.