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Profit down 42% at JPMorgan as Wall Street braces for pandemic reversion
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JPMorgan Chase’s first-quarter profit dropped 42%, weighed down by lower Wall Street fees and higher expenses.
The nation’s biggest bank earned $8.28bn, or $2.63 per share, compared with $14.3bn, or $4.50 per share, a year ago. Analysts had expected $2.72 per share, according to FactSet.
Revenue fell 5% to $30.72bn, ahead of analyst expectations...
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