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JPMorgan profit jumps on higher interest rates, lower taxes

Reuters 

(Reuters) - JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 35 percent surge in quarterly profit on Friday, helped by higher interest rates for loans and lower taxes.The bank's net income rose to $8.71 billion, or $2.37 per share, in the first quarter ended March 31 from $6.45 billion, or $1.65 per share, a year earlier. (https://bit.ly/2HyYbp9)Analysts had estimated earnings of $2.28 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.Income tax expense was down 8.6 percent at $2.56 billion as the U.S. corporate tax ...

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First Published: Fri, April 13 2018. 16:56 IST
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