10/12/2018, 12:50 PM (Source:
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JPMorgan Chase posts 5% rise in revenue to $27.8 billion in Q3

American financial services giant JPMorgan Chase announced on Friday its revenue in the third quarter rose 5% year over year to $27.8 billion. The better-than-expected earnings revealed earnings per share jumped 33% compared to the same period a year earlier to $2.34 on net income of $8.4 billion.

Meanwhile, the company reported net interest income increased 7% to $14.1 billion year over year, driven by the impact of higher rates as well as loan and deposit growth.

"JPMorgan Chase delivered strong results this quarter with top-line growth in each of our businesses, demonstrating the power of our platform. The US and the global economy continue to show strength, despite increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy," Chairman and Chief Executive Officer Jamie Dimon said.

Shares of America's largest bank by assets were up 0.57% in pre-market trading following the release of the financial update.

Breaking the News / JC