Saturday 20 December 2014

JPMorgan profit falls 19pc as trading revenue drops

Published 11/04/2014 | 12:30

A sign on the Canary Wharf offices of JP Morgan is seen through the branches of a tree in London January 28, 2014. Police said they are investigating the "non-suspicious" death of a man who fell onto a ninth floor roof at the European headquarters of investment bank JP Morgan in London's Canary Wharf on Tuesday morning
A sign on the Canary Wharf offices of JP Morgan is seen through the branches of a tree in London January 28, 2014. Police said they are investigating the "non-suspicious" death of a man who fell onto a ninth floor roof at the European headquarters of investment bank JP Morgan in London's Canary Wharf on Tuesday morning

JPMorgan Chase & Co reported a 19pc decline in first-quarter profit as revenue from securities trading fell in a climate of uncertainty about the strength of the economic recovery and the Federal Reserve's intentions on interest rates.

Net income fell to $5.27 billion, or $1.28per share, from $6.53bn, or $1.59 per share, in the same quarter of 2013, the biggest U.S. bank said today.

Analysts on average had expected earnings of $1.40 per share. It was not immediately clear if the reported results were comparable. As last year, the results included special items.

Reuters

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