J.P. Morgan posts third quarter losses

The company blames decreasing profits on increasing legal tab

It’s been said about a dozen times on the IndsideCounsel site alone, but it bears saying again: 2013 has been a rough year for mega-bank J.P. Morgan Chase.

As of Oct. 11, the bank has announced a third-quarter net loss of $380 million, owing most of that loss to its embroilment in a number of ongoing probes and regulation infringements. Despite the losses, the bank still had a net income of $5.8 billion dollars, on revenue of $23.9 billion. The losses translate to a dip of approximately 17 cents a share.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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