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JPMorgan Chase Reports Better-Than-Expected Profits

Friday, January 14, 2011 - 7:21 AM
From the New York Times:
The bank earned $4.8 billion in the final three months of 2010, or $1.12 a share, which significantly beat expectations.
The bank’s strong profits, in part, reflect the better consumer lending environment. Retail financial services, which includes everything from mortgages to credit cards to checking accounts, reported income of $708 million, compared with a loss of $399 the prior year.

As I mentioned yesterday, we will likely see more massive profits from the mega banks this year.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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