A supersized tax benefit helped J.P. Morgan Chase & Co. report a 22% increase in third-quarter profit, but investors focused on weakness in the firm’s trading division. The largest U.S. bank by assets reported a profit of $6.8 billion, or $1.68 a share. That compares with a profit of $5.57 billion in the same period of 2014. Excluding $2.2 billion of tax benefits and other one-time items, however, earnings came in at $1.32 a share, a nickel shy of the $1.37 a share polled by analysts polled by Thomson Reuters. [WSJ]
Not Paying Out Billions In Legal Fees Is Boon To JP Morgan's Profit
So that's something new and exciting.