The M&A gravy train is still chugging along, and J.P. Morgan Chase &
Co. has benefited every step of the way. The New York-based full-service bank
reported $550 million in advisory fees during its second-quarter earnings
report Wednesday, most of which came from M&A advising. That's a massive
59% gain compared to the same year-ago period. Those numbers helped J.P.
Morgan's investment banking division's net income to rise by 41% to $1.18
billion compared to the same time a year ago. According to Bloomberg, J.P.
Morgan advised clients on 76 completed takeovers valued at $177.7 billion
during the quarter. Overall, the bank announced its net income rose to $4.23
billion, or $1.20 per share, surpassing analysts expectations of $1.09 per
share. Below is a comparative look of earnings results for the
second quarters of 2007 and 2006 for J.P. Morgan's investment banking unit.
—Gerald Magpily
|
Results
for J.P. Morgan Investment Banking Division
($
millions)
|
2nd
Quarter 2007
|
2nd
Quarter 2006
|
|
Net revenue
|
$5,798
|
$4,329
|
|
Provision for
credit losses
|
164
|
(62)
|
|
Noninterest
expense
|
3,854
|
3,091
|
|
Net
Income
|
$1,179
|
839
|
|
Source:
J.P. Morgan Chase & Co.
|
See
Bloomberg
article
See J.P. Morgan's press release
See
post from Dealbook
See
post from Deal Journal
See
post from Dealbreaker
Tags: JP Morgan
Chase, banking,
finance,
financial
services,
acquisition,
deals,
mergers,
m&a
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