JPMorgan beats profit estimates on investment banking boost
JPMorgan Chase (JPM.N), opens new tab beat estimates for second-quarter profit on Friday, as its investment banking business benefited from a resurgence in dealmaking and strong capital market activity.
More companies are tapping capital markets to raise funds and striking takeover deals as they become confident in the U.S. economy’s ability to avoid a major downturn, helping boost Wall Street banks’ income from fees.
Source: REUTER