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JPMorgan profit just below estimates on weak investment banking

Reuters 

By Sweta Singh and David Henry(Reuters) - JPMorgan Chase & Co's quarterly profit fell short of Wall Street expectations on Friday as lower revenue from investment banking ate into gains from stock trading and higher interest rates.Investment banking revenue fell 7 percent as it underwrote fewer debt and equity offerings, a dark spot in an otherwise strong quarterly report.Shares of the largest U.S. bank by assets were down nearly 1 percent, paring early gains. The stock has risen 33 percent in the past 12 months.JPMorgan gained from a strengthening economy and higher interest rates that ...

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First Published: Fri, April 13 2018. 19:44 IST
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