JP Morgan returns to profit in Q3

Written By Unknown on Rabu, 15 Oktober 2014 | 00.00

JPMORGAN, the largest US banks by assets, has reported third-quarter profit after booking a loss in the same period a year ago.

THE bank on Tuesday reported earnings of $US5.6 billion ($A6.06 billion), or $US1.36 share, compared with a loss of $US380 million, or 17 cents a share, in the same period a year ago.

Revenue for the period rose five per cent to $US24.25 billion from $US23.12 billion a year ago.The results missed the expectations of Wall Street analysts who had forecast earnings of $US1.38 a share, according to FactSet.JPMorgan shares were down 36 cents, or 0.6 per cent, at $US57.80 in pre-market trading. The stock is down 0.5 per cent this year.

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