Wall Street bonanza boosts profits at JPMorgan

A Wall Street dealmaking bonanza in the third quarter helped boost profits at JPMorgan Chase (JPM) as the country’s largest bank raked in higher revenues from its investment banking and trading operations. JPMorgan posted net income of $14.4 billion, a 12% increase from the third quarter of last year and roughly $1 billion more than what analysts anticipated. Revenue from JPMorgan’s investment banking division climbed 17% from a year ago to $2.6 billion while client trading jumped 25% to $8.94 billion. ...