JPMorgan Reports Massive Trading Gains, Helping Offset Huge Reserve Build

JPMorgan Reports Massive Trading Gains, Helping Offset Huge Reserve Build

JPMorgan kicked off what's widely expected to be the worst quarter for big bank earnings since the financial crisis on Tuesday, reporting adjusted revenue of $33.82 billion, well ahead of estimates. The market was looking for $30.57 billion. The top-line bested even the most optimistic forecast. The range was $25.58 billion to $32.41 billion. Q2 EPS was $1.38, which also looks like a sizable beat. Net income of $4.7 billion was down 51%, obviously driven by reserve builds. Net interest income w
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