Market Overview

UPDATE: J.P. Morgan Posts Q3 Loss

Share:
Related JPM
Evaluating A Pair Of Multi-Factor ETFs
First Trust Gets Smart With New Sector ETFs
Latest stress test changes bad news for TBTFs, good news for smaller players (Seeking Alpha)

J.P. Morgan Chase (NYSE: JPM) reported a loss in the third quarter.

J.P. Morgan posted a quarterly loss of $400 million, or $0.17 per share, versus a year-ago profit of $5.7 billion, or $1.40 per share. Excluding charges, it earned $1.42 per share in the recent period.

Its revenue on a managed basis declined 7.7% to $23.88 billion. However, analysts were estimating earnings of $1.17 per share on revenue of $23.94 billion.

J.P. Morgan's commercial banking profit declined 3.6% y/y to $665 million, while mortgage banking profit rose 13% to $705 million.

J.P. Morgan shares gained 2.65% to $53.91 in pre-market trading.

Posted-In: lossEarnings News

 

Related Articles (JPM)

View Comments and Join the Discussion!