JPMorgan turns in record profit, higher revenue
NEW YORK – JPMorgan Chase, the country's biggest bank, reported a record quarterly profit Friday, helped by a surge in mortgage refinancing. CEO Jamie Dimon said he believed the housing market "has turned a corner."
The bank made $5.3 billion from July through September, up 36 percent from the same period a year ago. It worked out to $1.40 per share, blowing away the $1.21 predicted by analysts polled by FactSet, a provider of financial data.
Revenue rose 6 percent to $25.9 billion, beating expectations of $24.4 billion. Earnings were also helped because the bank set aside less money for bad loans — $1.8 billion, down 26 percent from a year ago.
If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at firstname.lastname@example.org