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JPMorgan profit rises 16% on tax gain


Reuters


July 16 (Reuters) - JPMorgan Chase & Co reported a 16% rise in quarterly profit as higher net interest income and a tax gain more than made up for lower activity at the bank's trading desks.

Net income at the largest U.S. bank rose to $9.65 billion, or $2.82 per share, from $8.32 billion, or $2.29 per share a year earlier.

Net revenue rose 4% to $29.57 billion.

JPMorgan's results are closely watched by investors looking to gauge the health of the U.S. economy. Goldman Sachs Group Inc and Wells Fargo & Co will report quarterly results later in the day.






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