$JPM $WFC

JPMorgan Chase GAAP EPS of $5.94 beats by $0.48, revenue of $50.5B beats by $1.59B
JPMorgan Chase press release (JPM): Q1 GAAP EPS of $5.94 beats by $0.48.
Revenue of $50.5B (+9.8% Y/Y) beats by $1.59B.
Net revenue was $50.5 billion, up 10%. Net interest income was $25.5 billion, up 9%. Noninterest revenue was $25.1 billion, up 11%.
The provision for credit losses was $2.5 billion. Net charge-offs were $2.3 billion, down $16 million. The net reserve build was $191 million, and included a $327 million net build in Wholesale and a $139 million net release in Consumer. In the prior year, the provision was $3.3 billion, net charge-offs were $2.3 billion and the net reserve build was $973 million.
Wells Fargo GAAP EPS of $1.60 beats by $0.02, revenue of $21.45B misses by $340M
Wells Fargo press release (WFC): Q1 GAAP EPS of $1.60 beats by $0.02.
Revenue of $21.45B (+6.5% Y/Y) misses by $340M.