JPMorgan Restates 1Q Earnings, Reducing Net Income

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July 13 (Bloomberg) -- Bloomberg's Tom Keene and Christine Harper report that JPMorgan Chase & Co., the largest U.S. bank by assets, restated first-quarter results to reduce net income by $459 million after a review of the firm’s chief investment office found that employees may have hid losses. Net income was $4.92 billion, rather than the $5.38 billion previously reported, the New York-based bank said today in a regulatory filing. They speak on Bloomberg Television's "Bloomberg Surveillance." (Source: Bloomberg)

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