🔹 Revenue: $19.58B (Est. $19.45B) 🟢
🔹 EPS: $1.34 (Est. $1.22) 🟢
🔹 NII: $13.73B (Est. $13.45B) 🟢
🔹 Total Loans: $694.5B (Est. $698.49B) 🔴
🔸 Declared a $20B share buyback program.
🔹 Total Deposits: $1.28T
Segment Revenue:
🔹 FICC Sales & Trading: $3.48B (Est. $2.94B) 🟢
🔹 Equities Sales & Trading: $1.10B (Est. $1.06B) 🟢
🔹 Investment Banking: $925M (Est. $896.3M) 🟢
🔹 Markets: $4.58B (Est. $4B) 🟢
Operating Metrics:
🔹 Operating Expense: $13.19B
🔹 Total Cost of Credit: $2.59B (Est. $2.58B) 🟡
🔹 Net Charge-Offs: $2.24B (Est. $2.33B) 🟢
Capital and Efficiency Metrics:
🔹 CET1 Ratio: 13.6% (Est. 13.7%) 🔴
🔹 Return on Average Equity (ROE): 5.4% (Est. 4.98%) 🟢
🔹 Return on Average Tangible Common Equity (ROTCE): 6.1% (Est. 5.5%) 🟢
🔹 Efficiency Ratio: 67.3%
Advisory and Underwriting:
🔹 Advisory Revenue: $353M
🔹 Debt Underwriting (DCM): $384M
🔹 Equity Underwriting (ECM): $214M
Dividend and Buyback:
🔸 Declared a $20B share buyback program.
🔸 Quarterly dividend: $0.51/share.
Outlook:
🔸 2025 Rev $83.5B To $84.5B (est $83.2B)
🔸 NII: Grow Modestly YoY
CEO Commentary:
🔸 "Our strong performance in trading and efficiency metrics underscores the progress we've made in transforming our business to deliver value to clients and shareholders."
Strategic Insights:
🔸 Focus on improving operational efficiency and expanding market share in core segments.
🔸 Targeting sustainable growth in key revenue-driving areas like FICC and Wealth Management.