NEW YORK (AP) – JPMorgan Chase’s third-quarter profits fell 8 percent from a year earlier, as higher revenue in the bank’s retail and investment banking divisions was offset by low interest rates.
The largest U.S. bank by assets earned $6.29 billion, or $1.58 per share, down from a profit of $6.80 billion, or $1.68 per share, in the same period a year earlier.
The bank’s results beat Wall Street’s estimates. Analysts anticipated earnings of $1.39 per share, according to FactSet.
Revenue rose to $24.67 billion, compared with $22.78 billion in the same period a year earlier.
JPMorgan’s stock rose 2 percent in pre-market trading.