JP Morgan profit rises 4% as trading boosts quarter

Representative image/Credit: AFP Photo

JP Morgan Chase & Co reported a 4% rise in third-quarter profit on Tuesday, helped by a surge in trading activity as global financial markets rebounded from a coronavirus-induced slump.

The bank's net income rose to $9.44 billion, or $2.92 per share, in the quarter ended Sept. 30, from $9.1 billion, or $2.68 per share, a year earlier.

Analysts on average had expected earnings of $2.23 per share, according to Refinitiv. It was not immediately clear whether those numbers were comparable.

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