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JP Morgan beats analysts’ profit expectations, aided by income tax boost

July 16, 2019


J.P. Morgan Chase posted earnings that exceeded analysts’ expectations, aided by an income tax benefit that boosted results by $768 million.

The bank on Tuesday posted second-quarter profit of $9.65 billion, 16% higher than a year earlier, or $2.82 a share, beating the $2.50 estimate of analysts surveyed by Refinitiv. The company’s revenue also edged out expectations at $29.57 billion, a 4% increase from a year earlier, compared to the $28.9 billion estimate.

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