JPMorgan Chase Beats Analyst Expectations, yet Its Shares Fall -- Why?
If you look at JPMorgan Chase's (NYSE: JPM) performance in the second quarter, with the bank beating analyst expectations on both the top and bottom lines, it's hard to understand why its shares fell after the bank reported results this morning.
Consider this: JPMorgan Chase's earnings per share in the second quarter grew by 17% on a year-over-year basis in the three months ended June 30, coming in at $1.82 per diluted share. Compared to the first quarter, the figure was up 10%.
To put this in perspective, analysts expected JPMorgan Chase to generate earnings of $1.60 per share, or about 12% below the actual figure. (Second-quarter 2016 EPS was $1.55.)
Source: Fool.com
JPMorgan Chase & Co. Stock
€185.80
-0.780%
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