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J.P. Morgan shares rise premarket on better-than-expected earnings
Posted to: Around The Web
Tuesday, July 15, 2014 3:19 AM

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NEW YORK (MarketWatch) -- J.P. Morgan Chase reported second-quarter profit of $5.99 billion, or $1.46 a share, down from $6.5 billion, or $1.60 a share in the same period a year ago. Revenue slipped 2% from a year ago to $25.35 billion. Shares of J.P. Morgan rose 1.9% in premarket trade, as the results exceeded the average analyst estimates compiled by FactSet for earnings of $1.29 a share and revenue of $23.73 billion. Mortgage originations declined 66% to $16.8 billion, while markets and investor services revenue declined 12% to $5.9 billion, amid a 15% drop in fixed income revenue and a 10% slide in equity markets revenue. "Despite continued industry-wide headwinds in Markets and Mortgage, the firm has continued to deliver strong underlying performance," said Chief Executive Officer


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