JPMorgan profit falls on slowdown in deals

JPMorgan Chase & Co reported a fall in first-quarter earnings on Wednesday, hurt by a slowdown in dealmaking brought on by the Ukraine conflict and a decline in trading revenue.

The largest U.S. bank by assets posted a profit of $8.28 billion, or $2.63 per share, in the quarter ended March 31, compared with $14.3 billion, or $4.50 per share, a year earlier.

Analysts on average had expected earnings of $2.69 per share, according to Refinitiv. It was not immediately clear if the reported numbers were comparable to estimates.