JPMorgan reports Q1 net income of $16.5 billion
JPMorgan posted record Q1 net income of $16.5 billion, with markets revenue up 20% and investment banking fees jumping 28%.
The bank’s revenue hit $49.836 billion, with markets revenue setting a record at $11.6 billion.
CEO Jamie Dimon warned of a potential credit cycle, citing $5.1 trillion in leveraged finance as a key stress point, saying losses will be worse than expected.
The stock has climbed 26% over the past year, with EPS of $5.94, up 17% from a year earlier.