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JPMorgan reports 18.3 percent rise in profit, higher trading revenue

JPMorgan Chase & Co reported an 18.3 percent rise in quarterly profit on Friday, helped by tax gains, a rise in interest rates and higher trading revenue.

Reuters 13 Jul 2018, 11:02 AM United States

JPMorgan Chase & Co reported that an 18.3 per cent rise in quarterly profit on Friday has led to tax gains, a rise in interest rates and higher trading revenue. 

The largest U.S. bank by assets said net income rose to $8.32 billion, or $2.29 per share, in the second quarter ended June 30, from $7.03 billion, or $1.82 per share, a year earlier.

Analysts were expecting earnings of $2.22 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported numbers were comparable with estimates.

Citigroup Inc and Wells Fargo & Co, the third- and fourth-largest banks by assets, are also set to report results on Friday. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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