Why Shares of JPMorgan Chase Are Rising Today
Shares of JPMorgan Chase (NYSE: JPM), the largest bank by assets in the U.S., traded more than 3% higher as of 11:44 a.m. ET on Friday after the bank reported earnings results for the third quarter.
JPMorgan reported $3.12 earnings per share on managed revenue of $33.5 billion, easily beating analyst estimates.
Excluding markets revenue, net interest income (NII), the profit banks make on loans and securities after funding those assets, came in at $16.9 billion, up $3.2 billion from the prior quarter, as banks benefit from the rising interest rate environment.
Source Fool.com
