JPMorgan Chase Q3 revenue $29.3 billionChristian Fernsby ▼ | October 13, 2020
JPMorgan Chase Q3 net revenue on a reported basis was $29.1 billion, compared to $29.3 billion, a year ago.
JPMorgan Chase Net revenue managed was $29.9 billion, flat with prior year
Net interest income was $13.1 billion, down 9%, predominantly driven by the impact of lower rates largely offset by higher net interest income in CIB Markets as well as balance sheet growth.
Noninterest revenue was $16.8 billion, up 7%.
Analysts expected revenue of $28.29 billion, for the quarter.
For the third quarter, the provision for credit losses was $611 million, down $903 million from prior year.
The credit costs for the quarter included $569 million of net reserve releases. ■