J.P. Morgan Chase grows profit by 53%

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