JP Morgan Is A Quality Core Holding But Analyst Presently Favors Bank Of America, Citi, US Bancorp

On Friday, JPMorgan Chase & Co. (NYSE:JPM) reported its first-quarter FY24 results.

Reported revenue rose 8% year-on-year (Y/Y) to $45.3 billion. Net revenue (managed) was $46.0 billion (+8% Y/Y), beating the consensus of $44.1 billion.

Net income rose 9% Y/Y to $14.6 billion in the quarter. EPS of $5.07 exceeded the consensus of $4.62. 

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Jamie Dimon, Chairman and CEO, said, "The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and "trade wars," ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility."

Oppenheimer analyst writes, "We had already ...