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SECURITY: JPM (Common)
EXCHANGE: New York Stock Exchange CURRENCY: US Dollar
JPMorgan Chase is a major
participant in the strongest, most vibrant capital markets in the world,
operating across various businesses and geographies. We are a leading global
financial services firm with assets of $755 billion. The firm is a component
of the Dow Jones Industrial Average. Our capabilities include:
JPMorgan
Investment Bank - Research
- Private Equity - Investment Management
Private Banking - Treasury
and Securities Services - Middle Market
Chase
Consumer Banking - Small
Business Services - Auto Finance - Education Finance
Credit Cards - Home Finance
- Investments - Insurance
JPMORGAN
CHASE REPORTS RECORD NET INCOME OF $4.8 BILLION, OR $1.34 PER SHARE, ON
RECORD REVENUE OF $19.0 BILLION
QUARTERLY
COMMON STOCK DIVIDEND INCREASED BY 12% TO $0.38 PER SHARE PDF
COMMON STOCK REPURCHASE
PROGRAM OF $10 BILLION AUTHORIZED
· Investment Bank
generates record earnings of $1.5 billion on record revenue of $6.3 billion;
record fixed income and equity markets results and investment banking fees
· Asset Management
and Commercial Banking produce record earnings; Private Equity posts very
strong results
· Retail Financial
Services successfully completed the systems conversion and rebranding for
339 former Bank of New York branches; branch sales volumes continue to
grow
New York, April 18, 2007
– JPMorgan Chase & Co. (NYSE: JPM) today reported 2007 firstquarter
net income of $4.8 billion, or $1.34 per share, compared with net income
of $3.1 billion, or $0.86 per share, for the first quarter of 2006. Income
from continuing operations
was $4.8 billion, or $1.34
per share, in the current quarter compared with $3.0 billion, or $0.85
per share, for the first quarter of 2006. The firm’s adoption of SFAS 157
(“Fair Value Measurements”) resulted in a benefit to the current quarter’s
earnings of $391 million1 (aftertax),
or $0.11 per share.
Jamie Dimon, Chairman and
Chief Executive Officer, commenting on the quarter said, “We are very pleased
with our record results this quarter, which reflected the strength of our
broad and diversified franchise. Across all of our businesses, we experienced
continued growth in client volumes, including new accounts, loans, deposits
and new business. The Investmen Bank, Asset Management and Commercial Banking
each delivered record earnings. Private equity gains were also very strong.
The firm’s strong results include some benefit from the generally favorable
credit environment, which we do not expect to continue indefinitely.” Commenting
on The Bank of New York branch integration, Dimon noted, “Through the remarkable
efforts of thousands of dedicated employees, we now have an integrated
and much stronger retail banking business in the New York Tri-state area.
Across the U.S. our customers now have available to them the convenience
of more than 3,000 branches and 8,500 ATMs.”
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