JPMorgan Chase & Co Inc said on Wednesday third-quarter net income rose 2.3 percent despite $1.64 billion in write-downs on leveraged loans and collateralized debt obligations.
The third-largest U.S. bank said net income was $3.4 billion, or 97 cents a share, up from $3.3 billion, or 92 cents a share, a year earlier.
The results beat analysts' average earnings forecast of 90 cents a share, according to Reuters Estimates.
JPMorgan's performance stands in sharp contrast to most other Wall Street firms, which saw profits plunge in the third quarter. Merrill Lynch & Co Inc expects to lose money in the quarter on $5.5 billion in write-downs.
JPMorgan's investment banking profit plunged 70 percent to $296 million, primarily because of markdowns of $1.3 billion, after fees, on leveraged lending commitments, and markdowns of $339 million on collateralized debt obligations.
(Reporting by Tim McLaughlin)