JPMorgan's quarterly results rise 9 percent, beat estimates
NEW YORK - JPMorgan Chase & Co. (JPM) says its fourth-quarter profits rose 9 percent from a year earlier, helped by strong performance in its consumer banking division.
The largest U.S. bank by assets said Thursday it earned $4.91 billion after payments to preferred shareholders. That compares to a profit of $4.49 billion a year earlier. On a per share basis, the bank earned $1.32 per share, compared with $1.19 per share a year earlier.
The bank's results beat the $1.26 per share analysts had been expecting.
Net revenue at the bank totaled $22.89 billion, compared with $22.75 billion in the same period a year earlier.
For the full year, JPMorgan earned $22.41 billion, up 12 percent from a year earlier.
Shares of JPMorgan rose 1 percent in pre-market trading.