JPMorgan Chase Reports Earnings Today, Topping Q1 Estimates

Shares of JPMorgan Chase (NYSE: JPM) are currently up 3% in Friday's premarket session as the asset tops Q1 estimates.

The company reported better-than-expected fiscal first-quarter results as big banks kicked off the new earnings season.

The banking giant reported earnings per share (EPS) of $5.07 on revenue of $45.31 billion, each up from $4.44 and $41.93 billion, respectively, a year ago. According to estimates compiled by Visible Alpha, some analysts had expected $4.64 and $43.55 billion. It generated $23.4 billion in net interest income (NII), above the $23.00 billion consensus.

Shares of JPMorgan were up 3% immediately following the release of Friday's report. They entered the day down roughly 5% year-to-date but up about 16% in the last 12 months.

"The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and 'trade wars,' ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility," JPMorgan CEO Jamie Dimon said. "As always, we hope for the best but prepare the Firm for a wide range of scenarios."

Dimon wrote in his annual letter to shareholders this week that he expected the Trump administration's tariffs "will slow down growth."

technical Outlook
As of the time of writing, JPM shares are already up 1.5% with the asset trading above the support point. A break above the 1-month high pivot could set the course for a bullish campaign eyeing the $260- $280 region.

With the last close RSI at 46, JPM shares has more room to capitalize on the dip and make a comeback prior the earnings beat.