JP Morgan Chase & Co. reported Thursday its second-quarter profit jumped 13 percent, as the nation's second-biggest bank by assets posted an unexpected jump on its top line, reports the NY Post.
As the first big bank to report results, focus was heavy on J.P. Morgan's revenue growth. Looming regulatory challenges and still-sluggish loan demand recently sent J.P. Morgan, like many of its peers, searching for ways to boost the top line.
J.P. Morgan reported a profit of $5.4 billion, or $1.27 a share, up from $4.8 billion, or $1.09 a share, a year earlier.
Revenue on a managed basis, which excludes the impact of credit-card securitizations and is on a tax-equivalent basis, rose seven percent to $27.4 billion...
Find out more at http://www.nypost.com/p/news/business/jp_morgan_profit_jumps_to_on_unexpected_bt6Penye09cDnOHMh2G4WL
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