(Finance) – Second quarter of applause for J.P. Morgan Chase which surprised analysts with results that exceeded market expectations.
The period ended with a significant increase in earnings at $18.15 billionequal to 6.12 dollars per share, up 25% compared to $14.47 billion, ($4.75 per share), in the same period of the previous year. A result obtained thanks to the solid performance of the investment banking and an accounting gain of $8 billion linked to a share exchange with Visa.
Analysts had estimated earnings per share of $4.19.
Adjusted profit was equal to $4.40 per share.
THE revenues reached $50.2 billion, up 22% from $41.3 billion in the same quarter last year and versus the consensus estimate of $42.3 billion.