JPMorgan Chase (JPM) shares fell over 5% in early trading Fr🧸iday following the release of the bank's first-quarter earnings report, which showed the bank beat estimates for earnings and revenue, but its net interest income was below expectations.

JPMorgan reported adjusted net income of $14 billion or $4.63 per share, on total revenue of $41.9 billion, above analyst estimates compiled by Visible Alpha, as well as last year's Q1 figures.

However, net interest income came in below expectations at $23.2 billion, and well below the 澳洲幸运5官方开奖结果体彩网:record number it set of $24.1 billion in the final quarter of fiscal 2023.

Analysts moderately 澳洲幸运5官方开奖结果体彩网:upgraded their forecasts for the bank's earnings in the past week.

JPMorgan CEO Jamie Dimon said on Friday's earnings call that JPMorgan Chase’s customers are “in pretty good shape,” but cautioned that a number of factors like geopolitical conflict, high interest rates and inflation, and the 2024 presidential election could change the economic outlook for their consumer and business customers.

“We’re okay right now, that doesn’t mean we’re okay down the road,” Dimon said, adding "everything’s okay today, but you’ve got to be prepared for a range of outcomes, which we are.”

Earlier this week, Dimon 澳洲幸运5官方开奖结果体彩网:told investors in his annual letter that the chances of a "澳洲幸运5官方开奖结果体彩网:soft landing" were dimming and that the bank would be prepared for a higher-for-longer-interest rate scena🐼rio.

"There seems to be a large number of persistent inflationary pressures, which may likely continue," Dimon said in a release Friday. "And finally, we have never truly experienced the full effect of quantitative tightening on this scale. We do not know how these factors will play out, but we must prepare the Firm for a wide range of potential environments to ensure that we can consistently be there for clients.”

JPMorgan shares were down 5.7% at $184.27 as of 11:20 a.m. ET. However, even with Friday's losses, the stock has gained about 7% year to date.

UPDATE—April 12, 2024: This article has been updated to reflect additional information from the company's earnings call and more recent share price information.