JPMorgan reducing 1Q earnings by $459 million
July 13, 2012
Text size
–
+
NEW YORK—JPMorgan Chase is lowering its previously reported first-quarter net income by $459 million. The bank says it's because of the surprise trading loss it announced in May.
The company says the announcement should have no effect on total earnings and revenue for the year to date.
JPMorgan is set to release its second-quarter earnings later Friday morning.
© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
