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J.P. Morgan’s earnings beat expectations; hit annual record

Published 01/14/2016, 10:12 AM
JPM
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Investing.com - J.P. Morgan Chase & Co, the largest U.S. bank by assets, reported better-than-expected fourth quarter profit as a tight lid on expenses and a smaller legal bill offset sluggish revenue growth.

The bank said fourth-quarter profit rose 10% to $5.43 billion, or $1.32 a share. Analysts had expected earnings of $1.25 a share.

Revenue rose around 1% to $23.75 billion, also beating expectations.

For the year, J.P. Morgan earned $24.44 billion, the second straight year of record annual earnings.

Shares in J.P. Morgan Chase (N:JPM) were up more than 1% after the open on Wall Street.

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