JP Morgan (JPM) said profit rose 76 percent to $4.8 billion, buoyed by a $6.3 billion reduction in provisions for soured mortgages and credit-card loans from last year. Second-quarter net income climbed to $1.09 a share, even as revenue fell 7.6 percent, the New York-based co. said today in a statement. The bank earned $2.72 billion, or 28 cents, in the same period a year earlier and $3.33 billion in the first quarter – Bloomberg
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply