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EARNINGS UPDATE: JPMorgan Chase & Co. Ratings Unaffected By Fair Fourth-Quarter Results Jan 12 Product Image

EARNINGS UPDATE: JPMorgan Chase & Co. Ratings Unaffected By Fair Fourth-Quarter Results Jan 12

  • Published: January 2012
  • Standard & Poors

FEATURED COMPANIES

Abstract
NEW YORK (Standard & Poor's) Jan. 13, 2012--Standard & Poor's Ratings Services today said its ratings on JPMorgan Chase & Co. (JPM; A/Stable/A-1) are not affected by the company's fourth-quarter results, which were in line with our expectations given the current operating conditions. JPM generated $5.3 billion of Standard & Poor's-adjusted pretax earnings in the fourth quarter, down from $7.0 billion during the same period in 2010. Results exclude a $570 million loss resulting from the narrowing of JPM's credit spreads. Full-year adjusted pretax income of $25.3 billion was in line with our forecast. We expect a modest increase in pretax income in 2012, largely as a result of further credit improvement. JPM's Standard & Poor's-adjusted revenue declined by 14.8%...

Companies mentioned in this report are:
- JPMorgan Chase & Co.

Action: General Comment

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- JPMorgan Chase & Co.

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