JPMorgan profit more than doubles, but revenue falls

Sharing is Caring!

JPMorgan Chase & Co. on Tuesday said second-quarter profit soared compared with a year ago, when the bank was stockpiling funds to prepare for a painful recession.

The nation’s biggest bank posted a profit of $11.95 billion, or $3.78 per share, compared with $4.69 billion or $1.38 per share a year ago. That beat the expectations of analysts, who had predicted $3.20 per share.

Yet revenue fell 8% to $30.48 billion from $33.08 billion a year ago, the result of depressed lending margins and lower trading revenue. Analysts had expected $29.97 billion in revenue, according to FactSet.

See also  British Pound falls to record low against the US Dollar

www.foxbusiness.com/markets/jpmorgan-bank-earning-profit-jamie-dimon-economy-revenue

Trending:
See also  Corporate Profit Growth Will Slow, Says the Fed

Views: 0

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.