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Tag Archives: Profits

Wells Fargo, JPMorgan Chase Profits Turn Upward in Q3

Mortgage banking net income was $439 million, down $266 million from a year ago and $270 million from the prior quarter. Much of the year-over-year decline stemmed from a reduced benefit from credit loss provisions—$19 million compared to last year's $1 billion.

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Total Home Flipping Down Yearly, but Profit Increases

In a blog post, RealtyTrac VP Daren Blomquist analyzed data from the company's newly created and interactive, county-level heat map, which shows the returns on home flipping over the last 12 months in 1,050 counties nationwide. He found that although flipping was down nationally in the first quarter of 2014 compared to a year ago, flippers are making bigger profits per flip.

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Citigroup Reports $3.9B in Quarterly Profits

Citigroup reported Monday profits of $3.9 billion in Q1, just barely edging out last year’s income of $3.8 billion. Gains were more impressive when put next to Q4’s earnings, which disappointed at $2.5 billion. The gain came despite a year-over-year drop in total revenues, which were down 1 percent to $20.1 billion as a result of declines in fixed income markets revenues and lower refinancing activity.

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