Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, October 18, 2007

JPMorganChase Reports Modest Profit

The big banks' reporting of third quarter results continues to reflect this summer's difficulties.  JPMorganChase was able to report a 2.3% increase in earnings, even as it took nearly $2 billion in write-downs and increases to consumer loss reserves that reflect the difficulties in its retail and investment banking units.  JPMorgan Chase's performance is in sharp contrast to Citigroup's dismal 57% drop in earnings for the third quarter.  NYTimes, JPMorgan Chase Posts a Profit, but Takes $2 Billion Write-Down ; WSJ, J.P. Morgan's Time to Grin.

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