JPMorgan Profit Down 17% As Dealmaking Slumps
View Source | October 18, 2022 7:01 am
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- Profit for the quarter ended Sept. 30 was $9.74 billion, or $3.12 per share, compared with $11.69 billion, or $3.74 per share, a year earlier, the bank said.
- Analysts had expected $2.88 per share. It was not immediately clear if the reported numbers were comparable to estimates.
- The bank set aside $808 million in reserves, as the U.S. Federal Reserve’s efforts to cool the economy through interest rate hikes have stoked fears of an economic downturn.
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