Finance
JPMorgan Notches Record Profit on Visa Gain, Dealmaking Jump
- Dimon repeats warnings about inflation, geopolitical risks
- Bank’s net interest income falls short of analysts’ estimates
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JPMorgan Chase & Co. reported record profit as investment bankers and equities traders at the biggest US bank smashed expectations and the firm took a multibillion-dollar gain tied to a Visa Inc. share exchange.
Fees from investment banking soared past analysts’ estimates, jumping 50%, while the firm’s equity traders notched a 21% revenue jump. The Visa transaction added $7.9 billion to second-quarter profit.