JPMorgan profit picks up when reserves are released

JPMorgan Chase & Co. third quarter earnings rose 24% thanks to the release of rainy day funds thrown away during the darkest days of the pandemic.

The bank posted profits of $ 11.69 billion, or $ 3.74 per share, up from $ 9.44 billion, or $ 2.92 per share, a year ago. According to FactSet, this exceeded the $ 3 per share that analysts had expected.

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