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JPMorgan Tops 1Q Estimates

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:56
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This is the -- a more important.

I'm on the fox goes -- Analysts and good morning we have some breaking news for you earnings from JPMorgan Chase just came in and the companies reporting a profit of -- dollar 31 cents a share that beat the estimate.

For a dollar eighteen cents a share revenue also topped expectations at 27 point four billion dollars.

The expectation was for 24 point 68 billion dollars.

David and -- of the Wall Street Journal is now joining us -- on to dig a little deeper into this report and David it's a bead on both.

For JPMorgan Chase what's your reaction.

Yeah good morning -- this is certainly looks like a pretty strong quarter for them -- jumped up a little bit premarket here for them though is -- that a bit.

Certainly this looks like there's a good quarter good rebound in the fourth quarter particularly.

Investment banking looks very strong project market.

What I headlines are jumping out at you from this report.

More I think what we just mentioned that the investment bank Armenia made at one point seven billion in credit and income there.

Revenue of seven point three billion which is pretty strong.

-- more -- -- -- -- -- beat the -- personally on the fact that investment banking would return and that looks to have come true this quarter.

And David any comments yet from CEO Jamie Dimon.

Showed diamond is as always pretty bullish seems like and his quarter he you know he -- -- -- a very strong quarter.

And it's.

Alright David and I had the Wall Street Journal thanks so much David and in the next hour we'll get Wells Fargo we'll keep you posted on those numbers as well.

In the meantime let's take a look at the markets here in the US futures are down across the board Dow futures are down by 26.

Yes -- -- down by two in the nasdaq's down by three a little better than we saw them earlier.

Over in Europe investors are reacting to data showing that China's economy grew at its -- pace in nearly three years for the first quarter 2012.

You can see stocks there are also in the red across the board.

-- down by twelve Paris is down by twenty point -- down about thirty meanwhile the UN Security Council has scheduled an emergency meeting today in the aftermath of North Korea's rocket launched.

That launch was a failure the rocket fell apart within minutes but the White House was still quick to condemn the launch Fox Business is rich ads in joins us now from Washington with the latest on -- hybrids.

A good morning -- a senior administration official tells us the White House response to the missile launch.

Has effectively withdrawn an offer of food aid to North Korea and last night white house Press Secretary Jay Carney.

Released a statement saying North Korea will only show strength and find security by abiding by international law -- living up to its obligations.

And by working to feed its citizens to educated children and to win the trust of its neighbors.

Republicans are also weighing in calling the Obama administration's offer of food aid to North Korea -- -- -- And foolish Republican presidential contender Mitt Romney says the administration's response has been incompetent.

And in a statement says North Korea's weapons program poses a clear and growing threat to the United States.

One for which President Obama has no effective response this -- to the UN Security Council where officials are expected to be later today.

The latest concern among analysts is the possibility of another nuclear test which would be the third by North Korea since 200660.

Our average -- live from DC thanks rich.

And as you mentioned little while -- I want to reiterate we got earnings in from JPMorgan Chase this kicks off earnings.

For the banks the company is reporting a profit of a dollar 31 cents a share the estimate there was for a dollar eighteen cents.

Revenue came in at 27 point four billion dollars the estimate there.

Was for 24 point 68 billion dollars that was -- beat on both earnings and revenue for JPMorgan Chase not a bad way.

To kick things off in about an hour we'll get earnings in from Wells Fargo as well we'll give you those numbers as soon as they cross.

Meanwhile Google's shares edged higher in after hours trading after the Internet giant's first quarter profit came in well above the street's forecast.

Google says it -- ten dollars eight cents a share a 61%.

Jump compared to a year ago.

Adjusted revenue was mostly in line with expectations at eight point 14 billion dollars.

Google CEO Larry Page says the company saw tremendous momentum from the big bets it made in product like android Chrome.

And YouTube the company says paid clicks meeting the number of times people click on -- Rose 39% compared to year ago but the cost per click.

The amount advertisers pay for each of those fell 12% compared to year ago.

Google also announced a surprise special dividend and that will act as a -- one stock split.

Here's a look at commodities now -- have a -- been down at most of the morning we think oil now at 103 a barrel gold at 1675.

Announced.

Imus in the morning continues right now on Fox Business.

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