JPMorgan profit rises 4% as trading boosts quarter

In this news, we discuss the JPMorgan profit rises 4% as trading boosts quarter.

(Reuters) – JPMorgan Chase & Co JPM.N on Tuesday reported a 4% increase in third-quarter profits, helped by a surge in business activity as global financial markets rebounded from a coronavirus-induced crisis.

The bank’s net income rose to $ 9.44 billion, or $ 2.92 per share, in the quarter ended Sept. 30, from $ 9.1 billion, or $ 2.68 per share, a year earlier.

Analysts on average expected earnings of $ 2.23 per share, according to Refinitiv. It was not immediately clear whether these numbers were comparable.

Reporting by Noor Zainab Hussain in Bengaluru and David Henry in New York; Edited by Saumyadeb Chakrabarty

Original © Thomson Reuters

Originally posted 2020-10-13 04:36:09.

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