JPM: JPMorgan to Report First-Quarter Earnings Friday. Here’s What to Expect.

After logging its most profitable year, banking giant is expected to post flat earnings growth. Eyes will be on the net interest income.

Key Points:

• JPMorgan to kick off earnings season.
• Net interest income in the spotlight.
• Bank reports Friday before the bell.
• JPMorgan JPM is kicking off the earnings season. The investment bank will be the first to show how the US economy fared during the first quarter — how much did consumers spend, what was the dealmaking scene like and how did 24-year high interest rates affect companies and investors.
• Let’s break it down. JPMorgan had its most profitable year in 2023. For the first quarter of 2024, analysts expect the bank to have picked up $41 billion in revenue, topping the $38 billion in the year-ago quarter. Net income, or how much the bank earned, is projected to hit $12.5 billion, fairly flat compared to last year’s first-quarter figure of $12.6 billion.
• All eyes will be on what’s called net interest income, or the difference between what the bank pays on deposits and what it earns from loans. Net interest income for the March trimester is expected to mark a slight drop to $23 billion, down from a record high of $24.2 billion in the fourth quarter. JPMorgan reports earnings Friday before the opening bell.