JPMorgan’s $18 Billion Profit in Q2


JPMorgan Chase reported a 25 percent jump in second-quarter profit, helped by higher investment banking fees and a gain of about $8 billion from a stock swap with Visa Inc.

Wall Street banks have benefited from a rebound in fundraising activity in debt and equity markets, and from higher advisory fees on mergers and acquisitions deals, as companies grow more confident that the U.S. economy can avoid a major slowdown.

The largest U.S. bank said Friday its profit was $18.15 billion, or $6.12 per share, for the three months ended June 30, compared with $14.47 billion, or $4.75 per share, in the same period last year.

The bank’s shares fell 0.6 percent in pre-session trading.

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