JPMorgan Chase GAAP EPS of $4.37 beats by $0.39, revenue of $42.65B beats by $1.27B
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- JPMorgan Chase press release (NYSE:JPM): Q3 GAAP EPS of $4.37 beats by $0.39.
- Revenue of $42.65B (+7.0% Y/Y) beats by $1.27B.
- Book value per share of $115.15, up 15%; tangible book value per share2 of $96.42, up 18%
- The provision for credit losses was $3.1 billion, reflecting net charge-offs of $2.1 billion and a net reserve build of $1.0 billion. Net charge-offs of $2.1 billion were up $590 million, predominantly driven by Card Services. The net reserve build included $882 million in Consumer, primarily in Card Services, and $144 million in Wholesale. The prior-year provision was $1.4 billion, reflecting net charge-offs of $1.5 billion and a net reserve release of $113 million.