Five prominent U.S. financial institutions unveiled their first-quarter financial performance on Friday, surpassing consensus forecasts for both earnings and revenue, highlighting the favorable climate for banks amid heightened interest rates and a robust economy. Here’s a summary of the results sourced from the Benzinga Pro platform: Bank Q1 2024 EPS EPS Surprise Q1 2024 Revenue Revenue Surprise JPMorgan Chase & Co. (NYSE:JPM) 4.44 6.99% $42.548B 1.7% Wells Fargo & Co 1.20 10.09% $20.863B $3.27% BlackRock Inc. 9.81 5.26% $4.728B 1.12% Citigroup Inc. 1.58 31.7% $21.104B 3.49% JPMorgan Chase & Co.: Q1 2024 Earnings Highlight JPMorgan Chase & Co.’s first-quarter 2024 earnings revealed an EPS of $4.44, outpacing estimates of $4.17. Adjusted revenue stood at $42.55 billion, surpassing the estimated $41.64 billion mark. Despite loans slightly below estimates at $1.31 trillion compared to the expected $1.33 trillion, the bank demonstrated resilience with a provision for credit losses of $1.88 billion, lower than the estimated $2.78 billion. Total deposits reached $2.43 trillion, exceeding the projected $2.4 trillion, while cash and due from banks were reported at $22.75 billion, below the estimated $28.97 billion. JPMorgan remains optimistic about its fiscal year net interest income, maintaining an outlook of about $90 billion, slightly below the estimated $90.72 billion. Equities sales and trading revenue hit $2.69 billion, while FICC sales and trading revenue reached $5.30 billion. Managed ...