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JPMorgan Chase (JPM) posted better-than-expected third-quarter earnings Friday, whereas setting apart practically a $1 billion to cowl doubtlessly unhealthy loans in a weakening home economic system, as earnings from rising rates of interest offset a stoop in world dealmaking.
JPMorgan stated earnings for the three months ending in September had been pegged at $3.32 per share, down 11.2% from he similar interval final 12 months abut firmly forward of the Road consensus forecast of $2.89 per share.
Managed revenues, JPMorgan stated, rose 7.5% to $32.7 billion, simply forward of analysts’ estimates of a $32.03 billion tally, whereas internet curiosity earnings rose 33% to $17.6 billion. Funding banking charges, JPMorgan stated, fell 43% to simply $1.7 billion.
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