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.
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.
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