Earning Release : J.P. Morgan

Earnings Release : J.P. Morgan

J.P. Morgan Chase & Co.'s fourth-quarter earnings fell 23% as revenue from its investment banking arm declined.

- Net Profit : $3.73 billion vs. $4.83 billion
- EPS : 90 cents vs. $1.12 a share
- Revenue : Fell 17% to $22.2 billion.

Analysts surveyed by Thomson Reuters were looking for a per-share profit of 90 cents on revenue of $23 billion.

The investment banking arm posted an 52% decline in profit to $726 million as revenue fell 30%. At the bank's retail services business, which handles consumer and small-business clients, profit was up 16% to $533 million from a year earlier.

Shares were recently trading down 2% to $36.10 before the market open in New York. Through Thursday's close, the stock is down 17% over the past 12 months.

Source : Marketwatch


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