Summary
JPMorgan Chase & Co. (JPM) filed an 8-K on April 20, 2005, reporting its first quarter 2005 financial results. The company announced a net income of $2.3 billion, or $0.63 per share, for the quarter. This represents a decrease compared to the $1.9 billion, or $0.92 per share, reported in the first quarter of 2004. While the absolute net income increased year-over-year, the earnings per share declined. Investors should note this divergence and refer to the attached earnings release (Exhibit 99.1) and financial supplement (Exhibit 99.2) for a more detailed understanding of the factors influencing these results, including revenue drivers, expense management, and segment performance. The filing also includes the computation of the company's ratios of earnings to fixed charges.
Key Highlights
- 1JPMorgan Chase reported Q1 2005 net income of $2.3 billion.
- 2Diluted earnings per share (EPS) for Q1 2005 were $0.63.
- 3Net income for Q1 2004 was $1.9 billion.
- 4Diluted earnings per share (EPS) for Q1 2004 were $0.92.
- 5The filing includes detailed financial supplements and earnings releases for Q1 2005.
- 6Computation of the company's ratio of earnings to fixed charges and preferred stock dividend requirements are provided as exhibits.