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10/15/2019, 12:55 PM (Source: TeleTrader)
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JPMorgan Chase reports EPS beat at $2.68

JPMorgan Chase & Co said on Tuesday its earnings per share beat expectations and were at $2.68 per share in the third quarter of 2019, rising by 15% year-on-year. The bank's net income was at $9.1 billion as it increased 8% compared to the same quarter a year ago while net revenue was reported at $29.3 billion, which compares to $27.3 billion in the third quarter of 2018.

CEO Jamie Dimon commended successes in the consumer and community banking sector as well as growth in the card sector. However, he warned of slower gross domestic product growth in the US, but added: "The consumer remains healthy with growth in wages and spending, combined with strong balance sheets and low unemployment levels. This is being offset by weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade."

JPMorgan shares were 0.90% higher in premarket trade on Wall Street following the earnings release.

Breaking the News / VP