JPMorgan Tops Profit Estimates on Trading Revenue

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July 15 (Bloomberg) -- Bloomberg’s Scarlet Fu breaks down second-quarter results from JPMorgan Chase as profits topped expectations, helped by fixed-income trading revenue that fell less than expected. She speaks on “Bloomberg Surveillance.”

For the big banks overall, so we have adjusted earnings per share number.

The consistence among analysts that we surveyed was for earnings of one dollar 30 one cents, so this looks to be a big beat here.

-- for earnings of $1.31. in other words, you back to $.13 off the $1.59. $1.59 is the number we want to look at here.

It is a comparable number to the consensus of $1.31. in terms of revenue, $25.35 billion is higher than analysts were looking for, beating most optimistic forecasts, which was for 24 point $4 billion.

It does look to be flat with the same time last year.

$25.93 billion, so slightly lower.

I was looking for the fixed-income rep . -- fixed-income revenue line.

Still lower than the same time last year and from the previous quarter, but perhaps not as bad as what jpmorgan had been warning, which was a 20% drop.

A return equity of 19%. what a different picture from citigroup.

Really dramatically a different snapshot.

I would notice also, scarlet, up top, i had never seen such link the comments from jamie dimon.

It is more than a read on it.

It is a virtual dialogue by james dimon versus what we normally see.

It is pretty much a boilerplate you would expect from any bank ceo toward the end of the second quarter.

We saw encouraging signs, but of course it is his announced illness with throat cancer.

I do not see a mention of his illness and ain a press release at this time.

There is no weston that jamie dimon can run the bank.

Futures improving -3 now up to -1.30. one of our great abilities is to have the staff of bloomberg industries with us.

Allison williams does riddick, terrific, relative work, and

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