JPMorgan Chase's Fourth Quarter Profit Dip Amid Apple Partnership Charge

JPMorgan Chase reported a decline in its fourth-quarter profit, affected by a one-time charge resulting from a credit card partnership agreement with Goldman Sachs and Apple. The profit dropped to $13 billion or $4.63 per share compared to $14 billion or $4.81 per share a year earlier.

JPMorgan Chase's fourth-quarter earnings took a hit, as the bank absorbed a one-time charge associated with a new credit card partnership with Goldman Sachs and Apple.

The bank disclosed on Tuesday that its profit fell to $13 billion, equivalent to $4.63 per share, for the three months ending December 31. This marked a decline from $14 billion, or $4.81 per share, recorded in the same period the previous year.

The earnings report reflects ongoing adjustments as JPMorgan navigates strategic alliances and market conditions.

(With inputs from agencies.)