This Rewards Card Is a Huge Success for JPMorgan Chase
Even though JPMorgan Chase's (NYSE: JPM) shares have dropped since the bank reported earnings at the end of last week, investors shouldn't interpret this as a sign that something was wrong with the bank's second-quarter performance. In fact, aside from a sharp decline in trading revenue, everything else looked pretty good.
There was one area in particular where JPMorgan Chase shined last quarter. Credit card sales volume was up 15% in the quarter compared to the year-ago period, meaning that people used their cards more in the three-month stretch this year. While higher consumer spending helps to explain this, the success of JPMorgan's Chase Sapphire Reserve card shouldn't be overlooked.
Image source: JPMorgan Chase.
Source: Fool.com
JPMorgan Chase & Co. Aktie
192,00 €
-2,03 %
Klare Kaufstimmung: JPMorgan Chase & Co. hat 35 Buy-Einschätzungen und keine Sell-Einschätzung.
Ein positives, wenn auch bescheidenes, Potenzial für JPMorgan Chase & Co. mit einem Kursziel von 203 € im Vergleich zum aktuellen Kurs von 192.0 €.
