JPMorgan Chase shares pop 5% after topping estimates on better-than-expected interest income

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JPMorgan Chase posted third-quarter results that topped estimates for profit and revenue as the company generated more interest income than expected.

Here's what the company reported:

JPMorgan said profit fell 2% from a year earlier to $12.9 billion, while revenue climbed 6% to $43.32 billion. Net interest income rose 3% to $23.5 billion, exceeding the $22.73 billion StreetAccount estimate, on gains from investments in securities and loan growth in its credit card business.

CEO Jamie Dimon touted the firm's quarterly results in a statement, while also addressing regulators' sweeping efforts to force banks to hold more capital and expressing concern about rising geopolitical risks, saying that conditions are «treacherous and getting worse.»

«We believe rules can be written that promote a strong financial system without causing undue consequences for the economy,» Dimon said, addressing the pending regulatory changes. «Now is an excellent time to step back and review the extensive set of existing rules – which were put in place for a good reason – to understand their impact on economic growth» and the health of markets, he said.

The bank's results were also helped by its Wall Street division. Investment banking fees climbed 31% to $2.27 billion in the quarter, exceeding the $2.02 billion estimate.

Fixed income trading generated $4.5 billion in revenue, unchanged from a year earlier but topping the $4.38 billion StreetAccount estimate. Equities trading jumped 27% to $2.6 billion, edging out the $2.41 billion estimate, according to StreetAccount.

The company also raised its full-year 2024 guidance for net interest income from the previous quarter, saying that NII would hit roughly $92.5 billion this year, up