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JP Morgan’s profit surged above expectations to $13.4bn in the first quarter of this year, up from $12.6bn a year earlier, thanks to higher interest rates and its takeover of First Republic. Revenue for the bank totalled $42.6bn, above expectations of $41.9bn, while earnings per share sat at $4.44, compared to estimates of $4.11. Significantly,
JP Morgan, Citi and Wells Fargo will all update investors on their performance so far this year with attention likely to be firmly fixed on their guidance for the year.
In annual letter to investors, Jamie Dimon warns ‘wars in Ukraine and Middle East could become far worse’