21 Hours AgoJPMorgan beats on top and bottom linesJPMorgan reported adjusted earnings per share of $6.14 vs. the $5.85 Wall Street analysts surveyed by LSEG were expecting. That excludes big investment gains in Visa and other equity investments.The bank reported an adjusted revenue figure of $52.42 billion vs. the $50.19 billion analysts had been expecting. That figure had an additional adjustment to exclude the big investment gain impact related to Visa and other equity investments.Those figures have been corrected from a previous post based on CNBC calculations as of 2 p.m.— Michele Luhn24 Hours AgoSolomon responds to criticism about Goldman lawyer RuemmlerSolomon responded to criticism about Goldman’s senior counsel, Kathryn Ruemmler, who stepped down after facing scrutiny over her ties to convicted sex offender Jeffrey Epstein. In response to allegations that she might be complicating the search for her successor, Solomon said it’s all “fake news.””Kathy stepped away because of the noise. We run a complicated organization. We’ve got lots going on,” Solomon told CNBC. “We’re very grateful that she continues to help the firm and she’s involved in the search itself.”— Laya Neelakandan24 Hours AgoSolomon: AI is making people more productiveSolomon told CNBC that he believes the availability of new artificial intelligence tools is making people more productive. “As people become more productive, they think about things through a slightly different lens,” Solomon said. “But we tried to be very clear on the [earnings] call that, at the moment, there’s no structural change in the way we’re thinking about head count.”He added that he does think there are areas of opportunity for Goldman as the firm explores the era of AI.— Laya Neelakandan24 Hours AgoSolomon: U.S. economy is ‘well positioned’Goldman’s Solomon said the U.S. economy has an “incredible ability” to navigate the ups and downs of the markets as the world contends with geopolitical uncertainty.”I do think the U.S. economy is just very well positioned in all this, given our capital markets, and our leadership position, capital formation around the world, our technology innovation, and the largest, most important companies, and the concentration of them that are here,” he said.— Laya Neelakandan24 Hours AgoSolomon: SpaceX IPO was ‘immaterial’ to Goldman’s revenueSolomon told CNBC’s David Faber that while the recent SpaceX IPO was massive for the broader market, it barely makes a mark for Goldman’s revenue for the quarter.” …
