Analysts pressed executives about competition from digital upstarts, prompting Chief Executive Jamie Dimon (pic) to exclaim at one point: "My God, the company is doing quite fine."
NEW YORK: JPMorgan Chase & Co second-quarter profits jumped 155% as the U.S. economy continued to rebound, but executives warned on Tuesday that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.
Despite the stellar profits, JPMorgan's shares fell 2.5% as investors focused on emerging challenges for financial stocks. Analysts pressed executives about competition from digital upstarts, prompting Chief Executive Jamie Dimon to exclaim at one point: "My God, the company is doing quite fine."
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