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JPMorgan beats profit estimates on better-than-expected credit, trading revenue – CNBC

JPMorgan Chase is the first major lender to report fourth quarter earnings.




JPMorgan Chase beat analysts’ estimates for fourth-quarter profit on record trading results and a boost from releasing money previously set aside for loan losses.
The company posted earnings of $3.79 a share, exceeding the $2.62 per share estimate of analysts surveyed by Refinitiv. The bank would’ve beat estimates even without the 72 cent per share boost from credit-reserve releases. The firm generated $30.16 billion in revenue, exceeding the $28.7 billion estimate.
JPMorgan CEO Jamie Dimon cited…

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