JPMorgan Chase's third-quarter profits fell 8 percent from a year earlier, the bank said Friday, as higher revenue in retail and investment banking was offset as the bank had to put aside more money to cover loans that might go bad.
The results still beat Wall Street's expectations, however, and JPMorgan Chase's stock rose in early pre-market trading.
The largest U.S. bank by assets and revenue said it earned $6.29 billion in the quarter, or $1.58 per share, down from a profit of $6.80 billion, or $1.68 per share, in the same period a year earlier. The results beat the $1.39 per share analysts were looking for, according to FactSet.
"We delivered strong results...