NEW YORK CITY (dpa-AFX) - US investment bank JPMorgan Chase & Co. (JPM)
reported Friday net income for the second quarter that surged to $18.15 billion
or $6.12 per share from $14.72 billion or $4.75 per share in the prior-year
quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report
earnings of $4.19 per share for the quarter. Analysts' estimates typically
exclude special items.

The provision for credit losses was $3.05 billion, reflecting a net reserve
build of $821 million and net charge-offs of $2.2 billion, compared to last
year's $2.90 billion.

Total net revenue on a reported basis grew 22 percent to $50.20 billion from
last year. On a managed basis, net revenue was $50.99 billion, up 20 percent
from $42.40 billion in the same quarter last year. The Street expected revenues
of $42.34 billion for the quarter.

Net interest income was $22.9 billion, up 4 percent or up 3 percent excluding
Markets, driven by higher rates, higher revolving balances in Card Services and
one additional month of First Republic, partially offset by lower deposit
balances and deposit margin compression.

Non-interest revenue was $28.1 billion, up 37 percent, predominantly driven by
driven by higher investment banking fees, asset management fees and CIB Markets
noninterest revenue.

Noninterest expense was $23.7 billion, up 14 percent, predominantly driven by
higher compensation, including higher revenue-related compensation and growth in
employees.



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