JPMorgan Chase says second-quarter profit fell 28% after building reserves for bad loans


JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Profit declined 28% from a year earlier to $8.65 billion, or $2.76 a share, driven largely by the reserve build, New York-ba...

Read Complete Article

Post a Comment

Previous Post Next Post