J P Morgan Chase & Co Reports Earnings Results for the Fourth Quarter and Full Year of 2015; Provides Earnings Guidance for the First Quarter of 2016
For the full year, the firm earned record net income of $24.4 billion and record EPS of $6 a share and a return on tangible common equity of 13.5% on revenue of nearly $97 billion. Revenue was down 1% or $1.3 billion, driven by noncore items, most notably by business simplification in the investment bank and also in private equity.
For the first quarter of 2016, the company expects firm-wide net interest income and net interest margin to be flat to slightly up sequentially; corporate and investment bank securities services revenue to approximately $900 million.