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0.000270587174167955 0.000360782898890521 -0.00018039144944526 -0.00333724181473802 -0.00703436457111931 -0.00866780914584647 -0.00559213493280423 -0.0046071976188329
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JPMorgan hits record quarterly profit; Citigroup reports 13% Q1 bump [Advisor.ca (Canada)]

JP MORGAN CHASE (JPM)  More Company Research Source: Advisor.ca
Last jp morgan chase earnings: 4/13 06:47 am Check Earnings Report
PDF Wall Street giant JPMorgan Chase & Co. recorded the highest quarterly profit in its history Friday, as the company benefited greatly from the new tax law passed late last year. JPMorgan Chase, the nation’s largest bank by assets and deposits, had a profit of $8.71 billion in the first quarter, a jump of 35% from a profit of $6.45 billion in the same period a year earlier. On a per-share basis, JPMorgan earned $2.37 a share, up from $1.65 per share, beating analysts’ forecasts. JPMorgan’s results were driven by two factors: higher interest rates, which have allowed banks like JPMorgan to charge more for customers to borrow, and a much lower corporate tax rate. While JPMorgan’s pretax income rose by $2 billion in the quarter, the company said it paid $240 million less in taxes compared to a year earlier. “The global economy continues to do well, and we remain optimistic about the positive impact of tax reform in the U.S. as business sentiment remains upbeat, a [Read more]

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