JPMorgan Quarterly Profit Rises 34%

http://dealbook.nytimes.com/2012/10/12/jpmorgan-quarterly-profit-rises-34/?hpw

JPMorgan Chase on Friday reported a third-quarter profit of $5.7 billion, up 34 percent from a year ago, as the bank showed signs of strength in consumer and corporate lending.

The bank surpassed expectations with earnings of $1.40 a share, compared with $1.02 a year earlier. JPMorgan’s revenue rose to $25.9 billion, up 6 percent from 2011.

As the nation’s largest bank, JPMorgan is often considered a barometer of how rival institutions and the greater economy will fare. With growth across virtually all the bank’s core businesses, the earnings could bode well for the rest of the industry.