JP Morgan ended the third quarter with numbers higher than analysts' expectations. In particular, the Amerian Bank recorded a net income growth of 34%, to $5,71 billion ($1,40 per share). Revenues improve (+6,1%, to 25,86 billion dollars), while provisions show a decrease due to credit losses equal to 1,79 billion, below the 2,41 billion of a year ago. Analysts had forecast earnings per share of $1,24 and revenue of $24,53 billion.
In detail, JP Morgan made profits in the mortgage sector of 1,8 billion dollars, mainly thanks to the refinancing of mortgage loans. In July, trading losses amounted to $5,8 billion, while the quarterly report released today showed that they stopped at $449 million in the three months of reference.
