JPMorgan Says Client Activity Moderated During Recent Quarter
Dow Jones
4 hours ago
0722 ET - JPMorgan Chase reports a 3Q profit of $15.31 billion, or $5.57 a share, up from $14.39 billion, or $5.07 a share, a year earlier. Reported net revenue climbs 8% to $50.17 billion. Analysts polled by FactSet expected earnings of $5.93 a share on revenue of $51.23 billion. CEO Jamie Dimon calls the quarterly results strong and says each line of business performed well. Revenue was up across JPMorgan's Commercial & Investment Bank unit, helped by strong levels of client activity, although activity did moderate somewhat during the quarter, Dimon says. In Consumer & Community Banking, JPMorgan ranked first in U.S. retail deposits for the sixth consecutive year, as the bank added over 650,000 net new checking accounts during the quarter, he adds. Shares are off 1% premarket.
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