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Home | Daily Dose | The Week Ahead: Q3 2017 Bank Earnings
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The Week Ahead: Q3 2017 Bank Earnings

quarterly earningsThis week, both Bank of America and JPMorgan Chase will release their Q3 2017 earnings.

JPMorgan Chase reported revenue of $25.5 billion in its Q2 2017 results with managed revenue of $26.4 billion, up 5 percent from Q1. Mortgage banking net revenue was $1.4 billion, a 26 percent decrease driven by higher rates and resulting in higher funding costs, lower MSR risk management revenue, and lower production margins.

“Mortgage Banking net revenue also included a reduction of approximately $75 million to net interest income, which reflected an adjustment for capitalized interest on modified loans,” the release said.

Bank of America’s Q2 net income increased 10 percent to $5.3 billion, according to the report. Noninterest income decreased slightly, reflecting lower mortgage banking income, partially offset by higher service charges and card income.

"Against modest economic growth of 2 percent, we had one of the strongest quarters in our history,” said Brian Moynihan, CEO of Bank of America. “All of our businesses delivered strong results, with several setting new records.”

What will the results be in this quarter? For JPMorgan Chase, join the conference call Thursday, October 12, 2017, at 8:30 a.m. EST and for Bank of America, join Friday, October 13, 2017, at 6:45 a.m. EST to find out.

 

Other events in the week ahead:

Senate nominations, Tuesday, October 10.

Bank Reserve Settlement, Wednesday, 2 p.m. EST

FOMC Minutes, Wednesday, 2 p.m. EST

Treasury Budget, Thursday, 2 p.m. EST

Fed Balance Sheet, Thursday, 4:30 p.m. EST

Consumer Price Index, Friday, 8:30 a.m. EST

Consumer Sentiment, Friday, 10 a.m. EST

About Author: Brianna Gilpin

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Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email [email protected]

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