JPMorgan's third-quarter earnings drop 8%

Posted online October 14, 2016 | 11:19 am

JPMorgan Chase posted an 8 percent decrease in third-quarter profits, as higher revenue in retail and investment banking was offset by money put aside to cover loans that might go bad.

Net income was $6.3 billion during the quarter, or $1.58 per share, compared with $6.8 billion, or $1.68 per share, a year earlier. Analysts projected $1.39 per share.

Revenue rose to $24.7 billion from $22.8 billion a year earlier.

Read more from The Associated Press.

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