14.10.2016 - Profit of J.P. Morgan Chase & Co. fell by 7.6%
J.P. Morgan Chase & Co. has published a report for the 3rd quarter according to which profits fell by 7.6% to 6.29 billion dollars compared with 6.8 billion dollars in the same period last year. Revenue rose by 8.4% to 25.51 billion dollars, compared with the forecast of 24 billion dollars. The reason for the lower profit was a seasonal drop in trading volumes. Waiting for the fall on the stock markets is the reason for the negative outlook on the stock and we expect a decrease in its quotations by 10-15% or more in the medium term.