JPMorgan profit beats estimates on investment-banking strength, shares jump
Investment-banking fees surged 31%, trading revenue up 8%
Net interest income grew 3%, annual forecast raised to $92.5 billion
CEO Dimon cautious on geopolitical risks, potential government role
Net interest income grew 3%, annual forecast raised to $92.5 billion
CEO Dimon cautious on geopolitical risks, potential government role
JPMorgan Chase (JPM.N), opens new tab shares rose nearly 5% on Friday after profit beat expectations in the third quarter, fueled by gains in investment banking and rising interest payments.
JPMorgan's stock, trading around $223, was on course for its biggest daily percentage gain in 1-1/2 years.
JPMorgan's investment-banking fees surged 31%, doubling guidance of 15% last month. Equities propelled trading revenue up 8%, exceeding an earlier 2% forecast.
JPMorgan's investment-banking fees surged 31%, doubling guidance of 15% last month. Equities propelled trading revenue up 8%, exceeding an earlier 2% forecast.
JPMorgan raised its annual NII forecast to $92.5 billion from $91 billion. The new estimate was higher than the $91.05 billion analysts polled by LSEG had forecast.
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