Wall Street Banks Likely to Report Lower Quarterly Earnings
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Analysts anticipate that the six foremost Wall Street banks will report a 10% reduction in earnings per share compared to last year, according to Refinitiv I/B/E/S estimates.
JPMorgan Chase & Co, the largest of these banks, is predicted to report a 30% rise in EPS, largely due to an almost 36% increase in net interest income.
This would be offset by the impact of the regional banking crisis last month and a slowing economy, which are expected to cause loan growth to be tepid and credit to deteriorate, leading to the addition of provisions against potential losses.
As such, analysts anticipate a challenging earnings season for the banks.
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