Financial services giant JPMorgan Chase & Co. (
) on Friday reported that its third quarter earnings exceeded
The New York based company reported that its third quarter net
income was a record $5.71 billion, or $1.40 a share, compared with
$4.26 billion, or $1.02 a share, a year earlier.
Quarterly revenue rose year-over-year from $23.76 billion to
$25.15 billion, or 5.5%.
On average, Wall Street analysts expected a smaller profit of
$1.17 per share on lower revenue of $24.53 billion.
JP Morgan CEO Jamie Dimon commented, "The Firm reported strong
performance across all our businesses in the third quarter of 2012.
Revenue for the quarter was $25.9 billion, up 6% compared with the
prior year, or 16% before the impact of DVA. These results
reflected continued momentum in all our businesses."
JPMorgan's share price was mostly flat in premarket trading.
The Bottom Line
Shares of JP Morgan Chase (
) have a 2.85% dividend yield, based on last night's closing stock
price of $42.10. The stock has technical support in the 438 price
area. If the shares can firm up, we see overhead resistance around
the $44-$46 price levels.
JPMorgan Chase & Co. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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