Bad news for JP Morgan: the US bank, one of the Big Six of the US, has in fact registered a profit decline of 37% in the fourth quarter of 2017 due to the accounted impact of new tax and labor rules introduced by the Trump administration.
Net income stood at 4,23 billion dollars, equal to 1,07 dollars per share, due to a 2,4 billion euro impact from tax reform and jobs act. Net of this extraordinary item, net income would have amounted to 6,7 billion dollars, 1,76 dollars per share, still down but only 1% and better than Thomson Reuters estimates, which forecast them at 1,69 $.XNUMX per share.
Revenue was instead equal to 25,45 billion dollars, again better than the 25,15 billion expected by Thomson Reuters. However, a negative reaction from the title, which in the premarket lost 1%, to 109,78 dollars, after the news.
