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JPMorgan Profit Beats Estimates on Trading, Shares Climb

JPMorgan Chase & Co., the biggest U.S. bank, posted second-quarter profit that beat estimates as fixed-income trading revenue fell less than analysts expected. The stock climbed the most in eight months.

Net income declined 7.9 percent to $5.99 billion, or $1.46 a share, from $6.5 billion, or $1.60, a year earlier, the New York-based firm said today in a statement. Earnings excluding some items were $1.59 a share, topping the $1.31 average estimate of 29 analysts surveyed by Bloomberg. Revenue slid 2.3 percent to $25.4 billion from a year earlier.