You are here: Home » International » News » Companies
China says US warning to firms in Xinjiang hurt global supply chain
Business Standard

JP Morgan beats estimates on trading boost, braces for rising defaults

JP Morgan's trading revenue surged 77% in a quarter that saw record-breaking volumes in financial markets.

Topics
JP Morgan | Coronavirus | US economy

Anirban Sen Elizabeth Dilts Marshall & David Henry | Reuters 



JP Morgan
The bank's shares rose 2.2% as both profit and revenue beat Refinitiv's consensus estimates, but the reserve build of $8.9 billion painted a grim picture for future quarters.

Chase & Co beat Wall Street estimates for profit in the second quarter due to a surge in trading revenue, while it set aside a record $10.5 billion to brace for rising defaults as the United States slides into one of the worst recessions in decades.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Tue, July 14 2020. 20:03 IST

RECOMMENDED FOR YOU

.