JPMorgan Chase Reports $3.6 Billion Quarterly Profit

October 14, 2009

(ChattahBox) — JPMorgan Chase, the first of the major banks to give results, has reported a $3.59 billion profit Wednesday, expanding its consumer lending franchise and overtaking investment banking rivals. It is the first time since JPMorgan Chase bought the collapsing Washington Mutual Inc. in September last year that assets and deposits did not shrink.  But it says its loan losses are still high and are expected to remain that way for the foreseeable future, perhaps a troubling sign for the economy. The bank has set aside $2 billion to cover current and future losses. Revenue in all but one of JPMorgan Chase’s six lines of businesses improved from the second quarter, earning 82 cents per share during the third quarter. Analysts were forecasting a profit of around 50 cents per share.


2 Responses to “JPMorgan Chase Reports $3.6 Billion Quarterly Profit”

  1. JPMorgan Chase Reports $3.6 Billion Quarterly Profit | ChattahBox … | Work4Real | Blogs search on October 14th, 2009 5:01 pm

    […] Show original post here […]

  2. "JPMorgan Chase Reports $3.6 Billion Quarterly Profit" and related posts | 7 Article on October 15th, 2009 7:44 am

    […] the original here:  "JPMorgan Chase Reports $3.6 Billion Quarterly Profit" and related posts Share and […]

Got something to say? **Please Note** - Comments may be edited for clarity or obscenity, and all comments are published at the discretion of - Comments are the opinions of the individuals leaving them, and not of or its partners. - Please do not spam or submit comments that use copyright materials, hearsay or are based on reports where the supposed fact or quote is not a matter of public knowledge are also not permitted.