JP Morgan Chase (JPM) Tops Q2 EPS by 10 Cents
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JP Morgan Chase (NYSE: JPM) reports Q2 earnings of $0.54 per share, 10 cents above the consensus of $0.44. The net-income excludes $540 million for Bear Stearns merger-related items. Revenues were $18.4 billion, includes Bear, may not compare to the $16.55 billion.
JP Morgan increased credit reserves by $1.3 billion firmwide; recorded markdowns of $1.1 billion in the Investment Bank, related to leveraged lending and mortgage-related positions.
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