JPMorgan Drops 4% After Q4 Revenue Revenue Misses View

Shares of JPMorgan Chase & Co. (JPM) are falling more than 4% in the morning trade on Friday after the company’s fourth quarter revenue missed analysts’ view.

The company reported revenue of $29.257 billion compared with 29.335 billion in the same quarter a year ago. On average, 22 analysts polled by Thomson Reuters expected the company to report revenue of $29.9 billion.

Net income in the fourth quarter declined to $10.399 billion or $3.33 per share from $12.136 billion or $3.79 per share in the same quarter a year ago. The consensus estimate stood at $3.01 per share.

Provision for credit losses were $1.288 billion compared with $1.889 billion last year.

JPM, currently at $160.04, has traded in the range of $127.35- $172.96 in the last 52 weeks.

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