The US quarterly season starts today. The first to lift the veil on the results recorded in the first quarter of 2022 were two bigwigs of the caliber of BlackRock and JP Morgan.
Quarterly BlackRock: profits and revenues up
In the first three months of the current year, the largest investment fund in the world recorded a earning per share diluted equal to $9,35, up 20% compared to the first quarter of 2021. Double-digit increase (+18%) also for adjusted earnings per share, which reached $9,52.
I revenues they amounted to 4,7 billion, an increase of 7% thanks to the strong organic growth and the boom (+11%) marked in technological services.
By virtue of the results achieved, the company has announced a dividend of $4,88 per share, up 18% over last year.
For Laurence D. Fink, chairman and CEO, "BlackRock generated $114 billion in long-term net inflows in the first quarter, with positive inflows across all product types and investment styles and regions, demonstrating the breadth of our wealth management."
As the world continues to grapple with geopolitical and economic uncertainty, Flink added, Blackrock's investments over the years "position us well to advise our clients and help them pursue their long-term financial goals."
Profit down 42% for JP Morgan
The first of the major US banks to publish its accounts was JP Morgan which in the first three months of 2022 recorded a Net income equal to 8,282 billion euros, 2,63 dollars per share, down 42% compared to the same period of 2021. The reported revenues amounted to 30,717 billion (-5%) e managed revenues to 31,59 billion (also in this case down by 5%). Consensus estimates were for earnings per share of $2,72 and revenues of $30,5 billion.
Going forward with the data, the managed assets stood at $3.000 trillion, up 4%. average loans were up 14% year over year and up 3% over the previous three months, while i medium deposits they grew by 39%.
The CEO Jamie Dimon, he said he was “optimistic about the economy, at least for the short term”, but underlined that he “predicted significant geopolitical and economic risks due to high inflation, supply chain problems and the war in Ukraine”.
The slowdown in activities caused by the conflict in Ukraine and the drop in turnover linked to trading weighed on JP Morgan's accounts.
On Wall Street, after the publication of the accounts, JP Morgan stock down more than 3% to $127,49 per share
