JPMorgan Chase is expected to release the results from its fourth quarter at 7 am Friday.
JPMorgan is the first of the big banks to report in what is expected to be a unconventional earnings cycle for the industry, mostly on account of the late-arriving tax reform that has caused many banks to book losses on deferred tax assets that declined in value.
JPMorgan is expected to take a one-time hit of $2 billion in the fourth quarter from the new tax law, equivalent to $0.57 per share.
Nonetheless, Wall Street analysts are expecting the investment bank to report earnings of $1.69 per share.
Here's what else analysts will be looking for:
- Fourth-quarter revenue of $25.5 billion
- Net income of $5.9 billion
- How much will tax reform ultimately cost the bank in the fourth quarter, and any guidance on longer-term impacts.
- Any early signs of impact from the newly implemented European regulatory reform known as MiFID II.
- Trading has suffered all year, how much will revenues drop in the fourth quarter?
- On the retail side, how's profitability from the uber-popular Chase Sapphire Reserve credit card coming along?