NEW YORK (Reuters) – JPMorgan Chase & Co reported a sharp rise in third-quarter results as underwriting revenue at its investment bank offset deeper losses on credit cards and other consumer loans.
The second-largest U.S. bank posted net income of $3.6 billion, or 82 cents a share. That compares with $527 million, or 9 cents a share, in the year-earlier quarter.
Analysts on average had forecast earnings of 52 cents a share, according to Thomson Reuters I/B/E/S.
JPMorgan shares were up more than 2 percent in premarket trading at $46.75. The shares closed at $45.66 on Tuesday on the New York Stock Exchange.
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