News & Analysis
News & Analysis

JPMorgan and Goldman Sachs Q2 numbers are in

14 July 2021 By Klavs Valters


JPMorgan and Goldman Sachs reported their Q2 earnings before the opening bell on Tuesday – both beating analyst forecasts.

JP Morgan & Co

JP Morgan reported total revenue of $31.4 billion in Q2, above analyst forecast of $29.90 billion. Earnings per share were reported at $3.78 vs. $3.21 estimate.

”JPMorgan Chase delivered solid performance across our businesses as we generated over $30 billion in revenue while continuing to make significant investments in technology, people and market expansion. This quarter we once again benefited from a significant reserve release as the environment continues to improve, but as we have said before, we do not consider these core or recurring profits. Our earnings, not including the reserve release, were $9.6 billion. Consumer and wholesale balance sheets remain exceptionally strong as the economic outlook continues to improve. In particular, net charge-offs, down 53%, were better than expected, reflecting the increasingly healthy condition of our customers and clients.” – Jamie Dimon, Chairman, and CEO commented on the strong Q2 results following the announcement.

JPMorgan Chase & Co Chart (year-to-date)

The share price of JPMorgan Chase & Co was trading down by around 1.42% towards the end of the US session trading at $155.79 per share following the latest results. The stock is up by around 22% year-to-date.

Goldman Sachs

Goldman Sachs also reported strong numbers with revenue of $15.39 billion in Q2, higher than analyst estimate of $12.17 billion. Earnings per share at $15.02, above the forecast of $10.24 per share.

Following the latest earnings report from Goldman Sachs, David Solomon, Chairman and CEO commented on results – ”Our second quarter performance and record revenues for the first half of the year demonstrate the strength of our client franchise and our continued progress on our strategic priorities. While the economic recovery is underway, our clients and communities still face challenges in overcoming the pandemic. But, as always, I am proud of the dedication and resilience of our people, who have worked tirelessly to help our clients navigate the ever-changing market environment.”

Goldman Sachs Chart (year-to-date)

Share of Goldman Sachs also trading slightly lower despite beating estimates, down by around 0.76% towards the end of the session at $377.31 per share. The share price up by around 43% year-to-date.

Bank of America (BAC), Citigroup (C) and Wells Fargo & Co (WFC) report their Q2 numbers before US market opens on Wednesday.

You can trade JPMorgan Chase & Co (JPM), Goldman Sachs (GS) and many other stocks from the NYSE, NASDAQ and the ASX with GO Markets as a Share CFD. Click here for more information. Trading Derivatives carries a high level of risk.

Sources: Goldman Sachs, JP Morgan & Co, Refinitiv, TradingView





Ready to start trading?

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.