JPMorgan, Goldman And Wells Fargo Post ‘Monster’ $69 Billion In Sales“”Shattering Expectations As Stocks Extend Highs

JPMorgan, Goldman And Wells Fargo Post ‘Monster’ $69 Billion In Sales“”Shattering Expectations As Stocks Extend Highs

Share to Linkedin Boosted by this year's retail trading frenzy and red-hot stock market, big banks shattered Wall Street expectations with their first-quarter reports on Wednesday morning, helping the market extend its highs and setting the stage for a blockbuster earnings season as hundreds of corporations release earnings in the coming weeks. Billionaire Jamie Dimon, chairman and chief executive officer of JPMorgan Chase in New York. Shortly after the market open, the S&P 500 ticked up 0. 1% after closing at a record high Tuesday, while the Dow Jones Industrial Average jumped 0. 3%, and the tech-heavy Nasdaq climbed 0. 2%. Among firms heading up gains in the S&P, Goldman Sachs is up nearly 2% after posting quarterly revenue of $17. 7 billion, more than doubling from the same period a year ago and also shattering expectations with earnings per share of $18. 60“”nearly 85% more than analysts were expecting thanks largely to a surge in stock trading and public-market debuts. JPMorgan, the nation's largest bank, reported revenue of $33. 1 billion“”roughly 10% above average expectations“”and net income of $14. 5 billion, 50% more than expected and a staggering five times earnings in the same period last year. JPMorgan shares,