JPMorgan Q2 Performance Beats Estimates

Bloomberg reported JPMorgan posted Q2/16 revenue that beat estimates as it extended $106 billion more in loans than a year earlier.

Net income was $6.2 billion or $1.55 a share, down from $6.29 billion a year earlier, according to Bloomberg. The average estimate of analysts surveyed by Bloomberg was for earning per share of $1.43.

Bloomberg noted 16% loan growth and 35% gain in revenue from fixed-income trading fueled JPMorgan’s results. Total revenue increased 2.8% to $25.2 billion, according to Bloomberg.

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