Options Market Statistics: JPMorgan Chase Tops Profit Expectations, Shares Rise and Options Pop

The electric vehicle transformation in the US hit yet another milestone last quarter, though further growth into the mainstream may still be elusive. This as Tesla's lead at the top is narrowing.

According to automotive research firm Kelley Blue Book (KBB), US EV sales in the third quarter crossed 313,000, nearly a 50% increase from a year ago, and around 15,000 more than the 298,000 sold in Q2. Cox Automotive (KBB's parent company) said EV market share hit 7.9%, its highest ever level and up from the 6.1% recorded a year ago.

JPMorgan Chase on Friday topped analysts' estimates for third-quarter profit and revenue as the bank generated more interest income than expected, while credit costs were lower than anticipated.

Here's what the company reported:

The bank said profit surged 35% to $13.15 billion, or $4.33 a share, from a year earlier. That per-share figure includes 17 cents in securities losses and 22 cents in legal expenses. It wasn’t  immediately clear which items were included in LSEG’s $3.96 a share profit estimate.

Revenue climbed 21% to $40.69 billion, helped by the stronger-than-expected net interest income. That measure surged 30% to $22.9 billion, exceeding analysts’ expectations by roughly $600 million. At the same time, credit provisioning of $1.38 billion came in far lower than the $2.39 billion estimate.

JPMorgan's retail banking division saw profit surge 36% to $5.9 billion, fueled by higher net interest income and the acquisition of First Republic. Its corporate and investment bank saw profit slip 12% to $3.1 billion on declines in trading and advisory revenue.