JPMorgan Chase posts expectation-beating Q3 earnings

NEW YORK, Oct. 11 (Xinhua) -- JPMorgan Chase shares jumped 4.44 percent on Friday after the bank reported third-quarter earnings that exceeded analysts' expectations for both profit and revenue, largely driven by stronger-than-expected interest income.

The company posted earnings of 4.37 U.S. dollars per share, higher than the 4.01 dollars forecasted, while revenue came in at 43.32 billion dollars, beating estimates of 41.63 billion dollars. Despite a 2 percent year-over-year decline in profit to 12.9 billion dollars, revenue grew by 6 percent. Net interest income (NII) rose 3 percent to 23.5 billion dollars, surpassing predictions, thanks to gains from securities investments and increased loan activity in its credit card business.