JPMorgan Chase on Friday beat analysts’ estimates for fourth-quarter profit on record trading results and a boost from releasing money previously set aside for loan losses.
The bank posted earnings of $3.79 a share, exceeding the $2.62 per share estimate of analysts surveyed by Refinitiv. It would have beaten estimates even without the 72 cent per share boost from credit-reserve releases. The firm generated $30.16 billion in revenue, exceeding the $28.7 billion estimate.
JPMorgan shares slipped 1.6% in Friday’s premarket after the earnings report.