JPMorgan’s profit plunges as credit costs spike on economic uncertainty

JPMorgan reported second-quarter profits of $4.7 billion, down from $9.7 billion a year ago. Yet per-share earnings only fell to $1.38, easily beating Wall Street’s expectations. Revenue jumped 15%, topping estimates. Jamie Dimon, JPMorgan’s CEO, struck a cautious note about the road ahead. “Despite some recent positive macroeconomic data and significant, decisive government action, we […]