JPMorgan Chase posts record profit

JPMorgan Chase, the biggest US bank by assets, posted a record third-quarter profit that beat analysts’ estimates as mortgage revenue soared 72 per cent.

12th October, 2012
JPMorgan Chase posts record profit
Jamie Dimon, JPMorgan CEO

JPMorgan Chase, the biggest US bank by assets, posted a record third-quarter profit that beat analysts’ estimates as mortgage revenue soared 72 per cent.

Net income rose 34 per cent to $5.71 billion (€4.4 billion), or $1.40 a share, from $4.26 billion (€3.28 billion), or $1.02, a year earlier, the New York-based company said today in a statement.

Earnings, which included a loss on accounting adjustments, beat the average estimate of $1.20 among 30 analysts surveyed by Bloomberg.

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