JPMorgan-Q4 earnings fall, trading activity falters | Photo credits: TK Kurikawa / Shutterstock.com
Jan 14 (Reuters) – JPMorgan Chase & Co on Friday reported a decline in fourth-quarter profit as weak trading activity could not be offset by strength in investment banking thanks to the strong activity in mergers and acquisitions.
The largest U.S. bank by number of assets posted a profit of $10.4 billion (9.08 billion euros), or $3.33 per share, in the quarter ended December 31, compared with $12.1 billion, or $3.79 per share, a year earlier.
Analysts on average had expected quarterly earnings of $3.01 per share, according to Refinitiv.
In New York, JPMorgan shares fell more than 3% in pre-market transactions.
(Reporting Anirban Sen in Bangalore and Matt Scuffham in New York; French version Dina Kartit, editing by Blandine Hénault)