JPMorgan Chase's Q3 profit jumps 12% YoY to $14.4 billion
Business
JPMorgan Chase just posted a strong Q3, pulling in $14.4 billion in profit ($5.07 per share)—easily beating Wall Street's expectations and up 12% from last year.
Still, the bank's stock dipped 0.98% in pre-market trading on Tuesday, as investors seemed wary about rising expenses, credit costs, and economic uncertainty.
Revenue hits $47.12 billion (up 9%)
Revenue hit $47.12 billion (up 9%), with both interest and noninterest income climbing.
Consumer banking led the way with a 24% jump in net income thanks to higher deposit margins and asset management fees, while commercial and investment banking earnings grew by 21%.
Even asset and wealth management saw solid gains—proof that most parts of JPMorgan are still going strong despite some market nerves.