JPMorgan profit falls on trading slowdown

JPMorgan Chase & Co reported a fall in fourth-quarter earnings on Friday as a weaker performance at its trading arm took the shine off a boom in investment banking.

The largest U.S. bank by assets posted a profit of $10.4 billion, or $3.33 per share, in the quarter ended Dec. 31, compared with $12.1 billion, or $3.79 per share, a year earlier.

Analysts on average had expected earnings of $3.01 per share, according to Refinitiv.