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© Reuters. JPMorgan topped profit forecasts.
Investing.com – A trio of big banks reported mixed results Friday, but shares of JPMorgan Chase, Citigroup and Well Fargo were all higher in premarket trading.
JPMorgan Chase (NYSE:) reported quarterly profit and revenue that topped analysts’ expectations. Citigroup (NYSE:) also beat profit forecasts, but its revenue was a tad below expectations. And Wells Fargo (NYSE:) missed on earnings estimates, but its revenue topped the consensus estimate.
Bank stocks have been unimpressive over the last three months. The shares looked to be on a comeback as bond yields rose, helping net interest margins, but the bullishness was short-lived as financials joined the broader recent selloff.
JPMorgan said it $2.34 cents per
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