JPMorgan 4Q results rise 9 per cent, beats estimates

NEW YORK, N.Y. – JPMorgan Chase & Co. says its fourth-quarter profits rose 9 per cent from a year earlier, helped by strong performance in its consumer banking division.

The largest U.S. bank by assets said Thursday it earned $4.91 billion after payments to preferred shareholders. That compares to a profit of $4.49 billion a year earlier. On a per share basis, the bank earned $1.32 per share, compared with $1.19 per share a year earlier.

The bank’s results beat the $1.26 per share analysts had been expecting.

Net revenue at the bank totalled $22.89 billion, compared with $22.75 billion in the same period a year earlier.

For the full year, JPMorgan earned $22.41 billion, up 12 per cent from a year earlier.

Shares of JPMorgan rose 1 per cent in pre-market trading.

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