JPMorgan Chase Generates Record Revenue in Q2, While Setting Aside $10.5B for Potential Loan Losses
Despite having to set aside nearly $10.5 billion to cover future potential loan losses, JPMorgan Chase (NYSE: JPM) generated almost $4.7 billion in profits in the second quarter ($1.38 in earnings per share), beating most estimates. That's down about 51% from the second quarter of 2019, but up 77% from the first quarter of the year.
America's largest bank generated roughly $33.8 billion in total revenue, its highest quarterly revenue amount ever.
Source Fool.com
