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Dow Jones Business News
JPMorgan Earnings -5: 3rd Quarter Trading Revenue $370 Million Versus $1.5 Billion
Wednesday October 16, 8:57 am ET


J.P. Morgan's third-quarter trading revenue, including related net interest income, plunged to $370 million in the third quarter from $1.5 billion a year earlier and from $1.12 billion in the second quarter.
The latest third quarter included investment securities gains of $465 million.

Investment banking fees fell to $533 million, off 34% from a year earlier and down 32% sequentially.

Underwriting revenues and other fees were down 34% from the second quarter and down 18% from the third quarter of 2001, driven by weakness in equity underwriting activity.

Fees and commissions rose to $2.77 billion from $2.3 billion a year earlier.

Securities gains rose to $578 million in the third quarter from $142 million a year earlier.

Total assets under management at quarter-end were $492 billion, down 15% from the year-ago period and 9% from the second quarter.