JPMorgan Chase Profit Lifted Past Estimates As Mortgage, Investment Banking Results Jump

 @gmorcroftg.morcroft@ibtimes.com
on July 12 2013 7:38 AM

JPMorgan Chase & Co. (NYSE:JPM) said on Friday that its second-quarter profit rose to $6.5 billion, or $1.60 a share, topping Wall Street estimates as mortgage originations rose 12 percent and investment banking business grew about 10 percent.

The largest U.S. bank by assets reported revenue of $25.21 billion.

A year ago, the New York based company earned $4.96 billion, or $1.21 a share, on revenue of $22.18 billion.

Analysts polled by Thomson Reuters expected JPMorgan Chase to report net income of $5.47 billion, or $1.44 per share, on revenue of $24.84 billion.

 

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