JPMorgan profit falls 19pc as trading revenue drops
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.