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.
