JPMorgan Chase Q3 Results Top Estimates
(RTTNews) - US investment bank JPMorgan Chase & Co. (JPM) reported Friday that net income for the third quarter increased to $13.15 billion or $4.33 per share from $9.74 billion or $3.12 per share in the prior-year quarter.
On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $3.96 per share for the quarter. Analysts' estimates typically exclude special items.
The provision for credit losses was $1.38 billion, compared to last year's $1.54 billion.
Total net revenue on a reported basis was $39.87 billion. On a managed basis, net revenue was $40.69 billion, up 21 percent from $33.49 billion in the previous year. Wall Street expected revenues of $39.57 billion for the quarter.
Net interest income was $12.9 billion, up 30 percent, while non-interest revenue was $17.8 billion, up 12 percent from last year.
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