JPMorgan Chase Q3 figures top estimates

11th Oct 2024 12:45

(Sharecast News) - US banking giant JPMorgan Chase reported third-quarter figures that topped estimates on both the top and bottom lines.

JPMorgan Chase said Q3 profits had fallen 2% to $12.9bn, while revenues were up 6% at $43.32bn and net interest income rose 3% to $23.5bn, driven by gains from securities investments and solid loan growth in its credit card division.

The US bank also said its quarterly performance was helped along by its Wall Street unit, with investment banking fees surging 31% to $2.7bn. Fixed income trading revenue came to $4.5bn, unchanged year-on-year, while equities trading jumped 27% to $2.6bn.

As of 1340 BST, JPMorgan Chase shares were up 1.48% in pre-market trading at $216.00 each.

Reporting by Iain Gilbert at Sharecast.com