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Net
income fell to $12.9 billion from $13.2 billion in the year-ago
quarter. However, the New York bank’s earnings per share rose to
$4.37 from $4.33 because there are fewer outstanding shares in
the latest quarter. That beat Wall Street analysts’ forecasts,
which called for a profit of $3.99 a share, according to FactSet.
JPMorgan set aside $3.1 billion to cover credit losses, up from
$1.4 billion in the same period a year ago.
Total revenues rose to $43.3 billion from $40.7 billion a year
ago.
JPMorgan CEO Jamie Dimon said the bank continues to monitor
geopolitical tensions that he called “treacherous and getting
worse.”
“There is significant human suffering, and the outcome of these
situations could have far-reaching effects on both short-term
economic outcomes and more importantly on the course of
history," Dimon said in a statement.
Dimon often weighs in on global and economic issues that go
beyond the scope of banking. He’s often seen as the banker that
Washington and global leaders can turn to for advice, solicited
or unsolicited. His comments tend to reverberate through
Washington and Corporate America.
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