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Thndr Claps » U.S. Claps » NYSE 🔔 » JP Morgan Q2 earnings fall📊

JP Morgan Q2 earnings fall📊

by Shams Abbas
July 15, 2022
JP Morgan, Earnings

The Clap
Q2-2022 earnings season is among us & it starts with JP Morgan (NYSE: JPM) reporting a disappointing 28% YoY fall in net profits.

The Deets
The decrease was attributed to the bank building up reserves for bad loans. Those reserves refer to the bank’s loan portfolio that may default or become uncollectible.

Why this Matters
The bank is suspending its share buybacks in order to comply with regulatory requirements for capital.

JP Morgan’s earnings are widely looked at as a gauge of how the banking industry fared.

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