“JPMorgan Chase raises key revenue target to $84 billion after First Republic takeover”
May 22, 2023
“JPMorgan Chase raised a key performance target on the heels of its government-brokered takeover of First Republic earlier this month.
The bank will generate about $84 billion in net interest income this year, New York-based JPMorgan said Monday in slides for an all-day investor presentation.
That’s $3 billion higher than guidance given in April. At the time, JPMorgan raised its net interest income outlook by $7 billion, a move that spurred JPMorgan’s biggest earnings day stock bump in 20 years…”
https://www.cnbc.com/2023/05/22/jpmorgan-chase-jpm-investor-day.html
Profiting by taking over competition is not a good look.