JP Morgan beats estimates
JP Morgan beat analysts' estimates by two cents in the first quarter. The storyline is familiar: Investment banking revenues soared. In fact, they hit a quarterly record of $4.7 billion. Meanwhile, retail banking operations were held back by flagging demand for retail mortgages and higher long-term interest rates. Citigroup also fell into this category. This same tension seems likely to hold in the second quarter.
> Here's an update.
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