JPMorgan Chase's Q3 Earnings Go Up, but Its Stock Heads Down

JPMorgan Chase's Q3 Earnings Go Up, but Its Stock Heads Down

The nation's biggest bank by assets kicked off third-quarter bank earnings season by outperforming analysts' estimates. For the three months ended Sept. 30, JPMorgan Chase (NYSE: JPM) reported net income of $6.7 billion, a 7% increase over the year-ago period.

On a per-share basis, JPMorgan Chase earned $1.76. Analysts had expected it to earn only $1.65 per share.

"JPMorgan Chase delivered solid results in a competitive environment this quarter with steady core growth across the platform," said Chairman and CEO Jamie Dimon in prepared remarks. "And for the first time, the firm led the nation in total U.S. deposits, as consumers and businesses continue to view us as their partner of choice."

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Source: Fool.com