Originally Posted by
openwheelracing
CSR lowered Chase profit by 40% (not 2016, late 2019).
May be you need to read an article on the net not just by its "updated date" but also its content?
Misleading information - that is the comment made by Dimon from Dec 2016! Whatever source(s) being cited here, are simply unreliable sources that never bother to update the initial content but added a para here and there, then plastered an Update Date on the article. Those who have not carefully read the content or literally do not care to, just pick it as it is true and current... Rather idiotic I would say.
Originally Posted by
diesteldorf
The article said updated June 25 2019 - yet MOST of the content about the P/L impact of CSR was the initial report on its first 1/2 year's (2016) financial impact WITHOUT any real updates on subsequent years, i.e. 2017, 2018 and first half of 2019.
May be the last paragraph about Churners is the "update" which has NO substance of any stats.
While it is not true "Fake News" but it is an extremely misleading news, because it simply used a 3 years old article with some "update" then republished it.
Most who do not pay much of attention or without any knowledge of prior events, would be fooled to think this is the present situation - cannot be more wrong -
The 40% decline comment was made at Q4 2016, the first quarter of CSR introduction - as reported by Bloomberg here
https://www.bloomberg.com/news/artic...ion-in-quarter
In fact Chase posted record high revenues and 8.1% growth in Profit for Q3 2019. The profit has NOT declined but grew !!!
https://www.cnbc.com/2019/10/15/jpmo...s-q3-2019.html
I dont have inclination to dig up the 10Qs in 2019. Since soon Chase will report earnings for whole 2019, those who are interested can a closer look on the P/L impact by CSR - definitely is not accounted for 40% of the decline, or any decline at all!