NEW YORK (MarketWatch)
J.P. Morgan Chase & Co. said
Wednesday its fourth-quarter profit increased by 53% to $5.69 billion, or $1.39
a share, from $3.73 billion, or 90 cents a share, in the year-ago period
Total
net revenue at the financial services firm, which is a component of the Dow
Jones Industrial Average
increased by 10% to $23.65 billion
On a managed basis, revenue rose 10% to
$24.38 billion
The bank booked four separate one-time items in its latest
profit report, including 14 cents a share in costs for its mortgage unit, a loss
of 9 cents a share from debit valuation adjustments in its corporate bank, a
positive tax benefit of 16 cents a share in its corporate unit and a benefit of
11 cents a share from reduced mortgage loan loss reserves
Analysts expected
J.P. Morgan to earn $1.16 a share on revenue of $24.23 billion, according to a
survey by FactSet
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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