JPMorgan quarterly profit jumps to nearly $5B

By Dow Jones Newswires
Posted Jan. 14 at 6:14 a.m.

JPMorgan Chase & Co reported fourth-quarter earnings jumped, helped by narrowing losses on bad loans.

The bank said earnings climbed to $4.8 billion, or $1.12 a share, from $3.3 billion, or 74 cents a share, a year earlier. Analysts on average expected a profit of $1 a share, according to Thomson Reuters I/B/E/S.

“Although we continue to face challenges, there are signs of stability and growth returning to both the global capital markets and the U.S. economy,” said Chief Executive Jamie Dimon.

Fewer bad loans meant the bank could reduce loan loss reserves in its credit card unit by $2 billion.

Revenue increased 6 percent to $26.7 billion.

The bank’s shares fell 20 cents to $44.25 in premarket trading.

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  1. Harvey Wallbanger Jan. 14 at 9:23 a.m.

    Looks like all those fees are “paying off”.

  2. Robin Jan. 14 at 9:41 a.m.

    Dang, that’s ALOT of atm withdrawal fees…..

  3. The Real Truth Jan. 14 at 12:18 pm

    How many jobs did they create? I don’t really care how much the stock market gamblers are going to win; those people don’t earn their money. I want to hear what Chase is doing to help the economy and put people back to work.

  4. Chiloyal Jan. 14 at 12:44 pm

    If Chase Bank is doing better, can we get rid of that $12 monthly service fee they want to collect from low-income checking account customers starting in February?

  5. Greg Jan. 14 at 4:00 pm

    they created a lot of jobs, in India. Their same day that’s not same day processing generates a lot of late fees. And how much of our tax money did they get?

  6. Judy T Jan. 14 at 5:08 pm

    Record profits courtesy of our tax dollars while they continue to foreclose on properties without the legally required paperwork. They provide zero benefit for the economy and engage fraud and graft that would make machine politicians blush. Their management doesn’t deserve bonuses, they deserve jail time.

  7. Tim Jan. 15 at 7:22 a.m.

    Poor Chase. Get rid of your fees and outrageous ATM charges.