JPMorgan took hits from a slump in financial-market activity and Russia’s invasion of Ukraine, reporting a 42% dive in quarterly profit. But a strong U.S. economy and rising interest rates will soften the blows. richardbeales1
- JPMorgan on April 13 reported a 42% drop in first-quarter profit from a year earlier as dealmaking slowed and the U.S. lender started building loan loss reserves in the face of decades-high inflation and the Ukraine crisis.
- The bank reported $30.7 billion of net revenue for the period, down nearly 5% year-on-year, and $8.3 billion or $2.63 per diluted share of net income, down from $14.3 billion or $4.50 a share in the first quarter of 2021.Editing by Swaha Pattanaik and Sharon LamOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine live updates: Russian convoy heads toward eastern Ukraine as new Mariupol death toll emergesThe regional governor of Kharkiv said the town of Izyum “remains the hottest spot” of the war, as Russia moves more equipment and troops into place, in preparation for what Zelensky described as “even larger operations in the east of our state.”
Read more »
Russia-Ukraine live updates: Russian forces accused of chemical attack in MariupolLATEST: Ukraine announces it is investigating claims that chemical weapons were used in an attack against Ukrainian soldiers in besieged Mariupol.
Read more »
Russia-Ukraine live updates: U.S. expects ‘same brutal tactics’ as Russian troops pivot to DonbasUkrainian President Volodymyr Zelensky accused retreating Kremlin forces of leaving behind thousands of mines in the Kyiv region.
Read more »
Russia-Ukraine war live updates: Fears for Mariupol as fighting set to escalate in the eastFighting in eastern Ukraine is expected to intensify as Russian forces look poised to mount a major offensive that threatens to overwhelm Mariupol.
Read more »
Investigation into whether Russia used chemical warfare in Ukraine, as 10,000 killed in MariupolAs Russia pounds the northeastern city of Kharkiv and prepares for an assault in Ukraine's east, the country's president warned President Vladimir Putin's forces could resort to chemical weapons, and Western officials said they were investigating an unconfirmed claim by a Ukrainian regiment that a poisonous substance was dropped in Mariupol.
Read more »
Investigation into whether Russia used chemical warfare in Ukraine, as 10,000 killed in MariupolAs Russia pounds the northeastern city of Kharkiv and prepares for an assault in Ukraine's east, the country's president warned President Vladimir Putin's forces could resort to chemical weapons, and Western officials said they were investigating an unconfirmed claim by a Ukrainian regiment that a poisonous substance was dropped in Mariupol.
Read more »