Why Did JPMorgan Chase & Co Share Price Drop 10%?
<p><a href='https://financialmodelingprep.com/financial-summary/JPM'>JPMorgan Chase & Co. (NYSE:JPM) </a>shares lost around 10% since Thursday, driven by the company’s updated outlook provided during its Q4 earnings call.</p>
<p>While the company posted quarterly EPS of $3.33, coming in better than the consensus estimate of $3.01, the investors were discouraged as the company made it clear their maintained medium-term 17% ROTCE target is not expected to be there in 2022 because of investment spending. Before the results, 2022 and 2023 Street EPS estimates of $12.06 and $13.38, respectively, both implied around 17% ROTCE. The Street expected 2022 expense of around $73 billion, and the new guidance was $77 billion. This was a negative surprise for investors, which resulted in a significant stock price fall.</p>

NYSE:JPM