JPMorgan’s result exceeded expectations – “Two significant risks in the economy”

A major US bank JPMorgan Chasen the fourth quarter result exceeded analysts’ forecasts. The company’s share price is up 1 percent in advance trading.

The company’s turnover rose ten percent from the corresponding period of the previous year to 43.7 billion dollars, while the analyst consensus collected by Factset expected a turnover of 41.9 billion dollars.

Earnings per share rose 58 percent to $4.81, compared with expectations of $4.09. Net income rose 50 percent to $14.0 billion. Last year, the result was burdened by the payments to the deposit protection fund.

Fees for the investment banking business rose by 49 percent and the net sales of securities trading rose by 21 percent.

“The US economy has been resilient,” CEO Jamie Dimon says in the company’s earnings release.

However, according to Dimon, there are still two significant risks in the economy.

”[Yhdysvaltojen] current and future spending needs are likely to increase inflation, so inflation may continue for some time. In addition, geopolitical conditions are the most dangerous and complex since World War II,” says Dimon in the release.

JPMorgan paid a total of 3.5 billion dollars in dividends last year, or 1.25 dollars per share.