JPMorgan Chase reported second-quarter earnings Friday that topped analysts’ expectations, as the company benefited from higher interest rates and better-than-expected bond trading.
Here’s what the company reported:
- Earnings: $4.37 per share adjusted vs. $4 per share Refinitiv estimate
- Revenue: $42.4 billion vs. $38.96 billion estimate
Net income surged 67% to $14.5 billion, or $4.75 per share. When excluding the impact of its First Republic acquisition in early May — a $2.7 billion “bargain purchase gain” from the government-brokered takeover, as well as loan reserve builds and securities losses tied to the purchase — earnings were $4.37 per share.
Revenue rose 34% to $42.4 billion as…