UPDATE: JPMorgan Posts Rise In Q2 Profit

J.P. Morgan Chase & Co

reported a rise in its second-quarter profit. JPMorgan's quarterly profit surged to $6.5 billion, or $1.60 per share, from $4.9 billion, or $1.21 per share, in the year-ago quarter. Its total net revenue climbed to $25.21 billion from $22.18 billion. However, analysts were estimating earnings of $1.44 per share on revenue of $24.97 billion. JPMorgan's mortgage originations increased 12% to $49 billion versus the previous quarter. JPMorgan shares fell 0.44% to $54.90 in pre-market trading.