Analyst Weighs In On JPMorgan Financial Results

Investors in JPMorgan Chase & Co (NYSE: JPM) want to know if the consumer is back, CFRA analyst Ken Leon said Tuesday on CNBC's "Squawk Box."

What Happened: JPMorgan reported quarterly earnings of $3.78 per share, which beat the estimate of $3.20 per share. The company reported quarterly revenue of $31.39 billion, which beat the estimate of $29.96 billion. 

“JPMorgan Chase delivered solid performance across our businesses as we generated over $30 billion in revenue while continuing to make significant investments in technology, people and market expansion," said Jamie Dimon, chairman and CEO of JPMorgan.

Related Link: Recap: JPMorgan Chase Q2 Earnings

Analyst Take: Leon told CNBC that the financial results were largely in line with expectations.

He said he expects to see a steady climb in JPMorgan stock over the next six to 12 months, although he noted the climb higher will likely be much more "quiet" than what the stock did over the last year.

JPM Price Action: JPMorgan is up 60.88% over a 52-week period. 

At last check Tuesday, the stock was down 1.32% at $156.28.

Photo by jebb from Flickr.