JPMorgan Chase & Co beat Wall Street estimates for quarterly profit by a wide ma...
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files
Revenue at three of the bank’s four main businesses rose, allaying concerns about the impact of an escalating U.S.-China trade war, slowing global growth and low interest rates. The only business to report a fall in revenue was commercial banking, where lower interest rates hampered results. Oppenheimer analyst Chris Kotowski described JPMorgan’s results as “solid”, noting that trading and investment banking results were strong, credit metrics held up well and that the bank managed to produce higher interest income even as rates declined. “Nothing not to like,” Kotowski wrote in a note.
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