Thursday, July 15, 2010

JP Morgan Reports Earnings

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JPMorgan's net profit per share was $1.09 in the second quarter, compared with the analysts' consensus forecast of 67 cents and up from earnings per share of 28 cents in the second quarter of last year.
Revenue was of $25.6 billion in the second quarter, in line with expectations.
"On the whole this number is not a good number… it's here because they've taken money out of reserves and put it into earnings," Bove said. >>read more

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