JPMorgan Chase on Tuesday reported second-quarter profit that beat analysts’ expectations on record trading revenue bolstered by surging volatility and the Federal Reserve’s unprecedented actions to prop up credit markets.
The bank posted earnings of $4.69 billion, or $1.38 a share, exceeding the $1.04 per share estimate of analysts surveyed by Refinitiv. Revenue of $33 billion exceeded the $30.3 billion estimate. Shares of the New York-based lender jumped 4% in premarket trading.
“Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy,” CEO Jamie Dimon said in the release….