AI English summary of an SEC filing — figures as filed
JPMorgan Chase JPMThe company said it reported net income of $18.1 billion ($6.12 per share) for Q2 2024, compared with $14.5 billion ($4.75 per share) for Q2 2023.
Key points
AI summaryThe company said it reported net income of $18.1 billion ($6.12 per share) for Q2 2024, compared with $14.5 billion ($4.75 per share) for Q2 2023.
The company said that excluding the $7.9 billion net gain related to Visa shares, the $1.0 billion donation of Visa shares to pre-fund contributions to its Foundation, and the $546 million net investment securities losses, net income would fall from $18.1 billion to $13.1 billion, and earnings per share would fall from $6.12 to $4.40.
JPMorgan Chase said the provision for credit losses in Q2 was $3.1 billion, reflecting net charge-offs of $2.2 billion and a net reserve build of $821 million. The company cited Card Services as the main driver of the $820 million increase in net charge-offs.
The company said that in Q2, its Standardized ratio under Basel III common equity Tier 1 capital was 15.3%, with common dividends of $3.3 billion ($1.15 per share) and net common stock repurchases of $4.9 billion.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Q2 2024 Net Income and Earnings Per Share
The company said it reported net income of $18.1 billion ($6.12 per share) for Q2 2024, compared with $14.5 billion ($4.75 per share) for Q2 2023.
Source · Based on the filing body and exhibits
Net income excluding Visa-related significant items for Q2
The company said that excluding the $7.9 billion net gain related to Visa shares, the $1.0 billion donation of Visa shares to pre-fund contributions to its Foundation, and the $546 million net investment securities losses, net income would fall from $18.1 billion to $13.1 billion, and earnings per share would fall from $6.12 to $4.40.
Source · Based on the filing body and exhibits
Q2 Provision for Credit Losses and Net Charge-Offs
JPMorgan Chase said the provision for credit losses in Q2 was $3.1 billion, reflecting net charge-offs of $2.2 billion and a net reserve build of $821 million. The company cited Card Services as the main driver of the $820 million increase in net charge-offs.
Source · Based on the filing body and exhibits
Standardized Ratio, Common Dividends and Net Common Stock Repurchases
The company said that in Q2, its Standardized ratio under Basel III common equity Tier 1 capital was 15.3%, with common dividends of $3.3 billion ($1.15 per share) and net common stock repurchases of $4.9 billion.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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