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The Wall Street Journal
JPMorgan Profit Jumps, But Bank Now Predicting Mild Recession
Bank earnings are on tap and the nation’s biggest bank, JPMorgan Chase Co., says its profits on lending soared. But it is now officially expecting a mild recession. + Revenue rose 18% to $34.55 billion. Wall Street was looking for $34.35 billion, according to FactSet. + Profit rose 6% to $11 billion, or $3.57 per share. Analysts expected $3.08 per share. + The bank set aside $1.4 billion for potential loan-losses, as the bank said it is now anticipating a mild recession. A year ago, $1.8 billion
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