JPMorgan Chase income jumps 68% to $14.5B in 2nd quarter

By Ovunc Kutlu

ANKARA (AA) – JPMorgan Chase saw its income and revenue increase in the second quarter of this year, according to its financial result statement released on Friday.

The US-based multinational financial services firm posted a net income of $14.5 billion in the April-June period, up 68% from $8.6 billion during the same period last year.

Net revenues saw an increase of 34% to $41.3 billion from $30.7 billion year-on-year.

Chairman and CEO Jamie Dimon said the US economy continues to be resilient, adding "Consumer balance sheets remain healthy, and consumers are spending, albeit a little more slowly."

"Labor markets have softened somewhat, but job growth remains strong," he said, and noted, "Consumers are slowly using up their cash buffers, core inflation has been stubbornly high."

JPMorgan Chase stock price rose to $152.58 for a daily gain of 2.6% at 9.45 a.m. EDT on the New York Stock Exchange (NYSE), from the previous day's close of $148.75 a share.