JPMorgan Chase & Co. (JPM), the biggest
U.S. bank, expects third-quarter revenue from stock and bond
trading to be unchanged to down as much as 5 percent from a year
Trading revenue is “tracking well versus the third quarter
of last year, but September last year was particularly strong
and we don’t expect it to be as strong as last year,” Chief
Financial Officer Marianne Lake said at an investor conference
in New York today.
JPMorgan, which generates the most revenue from trading of
any bank, produced $4.77 billion in last year’s third quarter.
That suggests a minimum of $4.53 billion for the current period,
which would be a 16 percent drop from the second quarter.
To contact the reporters on this story:
Michael J. Moore in New York at
Dawn Kopecki in New York at
To contact the editors responsible for this story:
David Scheer at
Christine Harper at
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