Q2 2023 JPMorgan Chase & Co Earnings Call Transcript

Jan 23, 2024

Jul 14, 2023 / 12:30PM GMT
Operator

Good morning, ladies and gentlemen. Welcome to JPMorgan Chase's Second Quarter 2023 Earnings Call. This call is being recorded. (Operator Instructions) We will now go to the live presentation. Please stand by.

At this time, I would like to turn the call over to JPMorgan Chase's Chairman and CEO, Jamie Dimon; and Chief Financial Officer, Jeremy Barnum.

Mr. Barnum, please go ahead.

Jeremy Barnum - JPMorgan Chase & Co. - Executive VP & CFO

Thanks, operator. Good morning, everyone. Presentation is available on our website, and please refer to the disclaimer in the back.

Starting on Page 1. The firm reported net income of $14.5 billion, EPS of $4.75 on revenue of $42.4 billion and delivered an ROTCE of 25% (sic) [23%]. These results included the First Republic bargain purchase gain of $2.7 billion; a credit reserve build for the First Republic lending portfolio of $1.2 billion; as well as $900 million of net investment securities losses in Corporate.

Touching on a few highlights. TCP client investment assets were up 18%

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