Finance
JPMorgan Posts Surprise NII Gain, Raises Key Revenue View
- Dimon calls geopolitics ‘treacherous and getting worse’
- Investment-banking fees surge 31%, topping analyst estimates
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JPMorgan Chase & Co. reported a surprise gain in net interest income for the third quarter and raised its forecast for the key revenue source, even amid expectations that US interest rates will continue to fall.
Revenue from the bank’s Wall Street operations also defied analysts’ estimates, with investment-banking fees surging 31%, topping estimates for a 16% gain. Equity traders notched a 27% revenue increase.