JPMorgan Chase reported profits of 12.9 billion dollars in the third quarter of this year, well above analysts’ expectations, writes FT, quoted by Ziarul Financiar.
However, the bank’s net income was 12.1 billion dollars, down 2% compared to the same period last year.
After the financial results announcement, JPMorgan shares rose 4.5%.
The commissions received by the investment banking division increased by 31% compared to the third quarter of last year, reaching 2.3 billion dollars.
JPMorgan’s trading revenues increased by 27% compared to last year, up to 2.6 billion dollars.
Meanwhile, Wall Street is looking forward to the thawing of the M&As market after interest rates started to fall.
Source: www.descopera.ro
