J.P. Morgan's revenue falls below estimates

14.10.2015 / 00:09

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J.P. Morgan Chase & Co. said its third-quarter profit rose, though the bank wrestled with volatile markets and continued low interest rates.

The largest U.S. bank by assets reported a profit of $6.8 billion, or $1.68 a share. That compares with a profit of $5.57 billion, or $1.35 a share, in the same period of 2014. Excluding items, earnings were $1.32 a share.

Analysts polled by Thomson Reuters had expected earnings of $1.37 a share.

Revenue fell to $23.54 billion. Analysts had expected $23.69 billion.

J.P. Morgan kicks off the third-quarter earnings season for large U.S. banks, offering investors and analysts a snapshot of a quarter that is expected to be characterized by a decline in bond trading amid summer market swings and continued pressure on revenue.

Shares in J.P. Morgan hit an all-time record of $70.61 in July but have fallen 13% since then. For the year, they are down 1.7% compared with a 5.1% decrease in the KBW index of bank stocks over the same period.

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J.P. Morgan's revenue falls below estimates

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