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JPMorgan Chase profit falls as markets revenue dips 11%
JPMorgan Chase & Co. said Friday its fourth-quarter profit fell to $10.4 billion, or $3.33 a share, from $12.14 billion, or $3.79 a share in the year-ago quarter. Managed revenue rose 1% to $30.3 billion, with reported revenue of $29.3 billion. The megabank was expected to earn $3.01 a share and generate revenue of $29.78 billion, according to a survey of analysts by FactSet. Total Markets revenue of $5.3 billion fell 11%, including a drop of 16% in fixed income markets and a 2% dip in equity ma
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