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10/13, 12:56 PM (Source: TeleTrader)
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JPMorgan's Q3 EPS at $2.92, above expectations

JPMorgan Chase & Co. announced on Tuesday its earnings per share (EPS) in the second quarter came in at $2.92, beating expectations and rising by 8.7% from $2.68 reported in the same trimester last year. Its revenue landed at $29.95 billion, decreasing by 3% year-on-year, but also performing better than expected. Meanwhile, the bank reported a net income of $9.4 billion, increasing by 3.3% in comparison to the same period in the fiscal year 2019.

"The Firm recently received approval to open branches in 10 additional states which would allow us to operate branches in all of the lower 48 United States. states. Home Lending benefited from strong production margins, and combined debit and credit card spend showed positive year-over-year growth in September for the first time since the widespread shutdowns," JPMorgan's Chair and Chief Executive Officer (CEO) Jamie Dimon commented.

The company's shares advanced 1.35% in the premarket trading at 7:12 am ET after the report's release.

Breaking the News / JR