JPMorgan Chase’s, Revenues fell 15 percent

by Zagros on October 13, 2020

JPMorgan Chase’s  profit jumps 23 percent in 3Q

NEW YORK  (AP) _  JPMorgan Chase  posted a 23 percent gain in net income for the third quarter Wednesday, mostly because the banking giant set aside less money to cover losses from bad loans.

Revenues fell sharply in a sign that tighter regulations and a sluggish economy are taking a toll.

New York -based  JPMorgan Chase & Co. , the first major bank to report third-quarter results, earned  $4.42 billion , or  $1.01  per share, in the three months ending in September, beating analysts’ expectations. It earned  $3.59 billion , or  82 cents , during the same period last year. Revenues fell 15 percent to  $24.3 billion .

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