Posted: Jul 12, 2013 4:49 AM by Associated Press
NEW YORK (AP) - JPMorgan Chase, the country's biggest bank by assets, says its second-quarter earnings surged as consumer deposits rose and credit card volumes increased.
The bank made $6.1 billion in the second quarter after stripping out payments to preferred shareholders. That was up 32 percent from the same period a year ago, when it made $4.6 billion.
That amounts to $1.60 per share. That exceeded the estimates of analysts polled by FactSet, who had forecast earnings of $1.44 per share.
Revenue in the period grew by 14 percent to $25.2 billion. That compared with $24.9 billion forecast by analysts.
Shares were little changed at $55.14 in pre-market trading. The bank's stock is trading close to its highest in more than a decade and has gained 25 percent this year.
Click here to submit a news tip to us!
Become a Facebook Fan!
Help those in need this holiday season
Win! Win! Win!
Wise Local Marketing!
Get news, weather and more on your smartphone and tablet!
Get texts for news, traffic, deals and more!
Sign up on KVOA.com for newsletters, exclusive deals, and more!
What's happening on News 4 @ 4
Stories and videos with Kristi's Kids
Check out the latest events FC Tucson has scheduled.
Let us help grow your business
Digital Channel 4.2
What's on KVOA and when!
Contact info for our department heads
KVOA's on air personalities!
Work at News 4 Tucson
Complete feeds of all KVOA.com stories
FCC Public File of Records, Reports, and More