JPMorgan Third-Quarter Trading Revenue May Decline 5%

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 earlier.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.