Categories Earnings, Finance

JP Morgan reports 51% decline in net earnings for Q2 2020

JPMorgan Chase & Company (NYSE: JPM) reported second quarter 2020 earnings results today.

JP Morgan reports Q2 2020 earnings results

Net revenue on a reported basis was $33 billion compared to $28.7 billion in the same period a year ago. Net revenue on a managed basis rose 15% to $33.8 billion.

Net income fell 51% to $4.7 billion, or $1.38 per share, driven by reserve builds across the firm.

Related: Weak bank earnings send bearish signal

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JPMORGAN CHASE REPORTS FIRST-QUARTER 2020 NET INCOME OF $2.9 BILLION, OR $0.78 PER SHARE
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