clear
Friday January 19th, 2018 9:54PM

JPMorgan Chase 4Q results fall 37 percent, due to tax charge

By The Associated Press
Related Articles
  Contact Editor

NEW YORK (AP) — JPMorgan Chase & Co. is saying its fourth quarter results fell 37 percent from a year ago, as the bank took a one-time charge to its results due to the recently passed Trump tax bill.

JPMorgan said it earned $4.23 billion in the fourth quarter, or $1.07 a share, down from $6.73 billion, or $1.71 a share, in the same period a year earlier. Excluding items, the bank earned $1.76 a share, topping analysts' estimates of $1.69 a share.

JPMorgan wrote down $2.4 billion in what are known as tax-deferred assets, which are basically credits it could have used to pay future income taxes. Because the corporate tax rate fell to 21 percent, JPMorgan had to write down some of those assets.

JPMorgan's quarterly revenue was $25.45 billion, up from $24.33 billion

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Financial Services
© Copyright 2018 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Turkey tells citizens to reconsider travelling to US
Turkey has warned its citizens about traveling to the United States, in retaliation for a new U.S. travel advisory about Turkey
7:25AM ( 14 minutes ago )
German leaders express confidence on forming new government
Chancellor Angela Merkel's conservatives and the center-left Social Democrats have taken a big step Friday toward forming a new German government
7:24AM ( 15 minutes ago )
The Latest: Trump defends immigration stance in tweet
President Donald Trump is calling a bipartisan immigration proposal "a big step backwards" and claiming that it would force the U.S. "to take large numbers of people from high crime countries which are doing badly."
7:24AM ( 15 minutes ago )
Associated Press (AP)
GM says it's mass-producing cars without steering wheels
General Motors says it is making the first mass-production autonomous car without a steering wheel or pedals
7:10AM ( 29 minutes ago )
New eurozone chief Centeno wants closer unity, fewer crises
The euro currency zone has a new leader, as Portugal's Mario Centeno took over the reins of the body that was in the forefront of efforts to contain Europe's debt crises
7:05AM ( 34 minutes ago )
The Latest: German deal would raise chances for euro fixes
The euro has jumped to a three-year high on news of progress in talks to create a new German coalition government
6:49AM ( 50 minutes ago )
AP Business
China auto sales shrink in December, end year up 1.4 percent
China's auto sales shrank in December and ended the year up just 1.4 percent over 2016
3:33AM ( 4 hours ago )
Mudslides claim couple married 50 years, real estate agent
A couple married for more than 50 years and had just celebrated his 89th birthday are among victims of California mudslides
12:57AM ( 6 hours ago )
Cyberbullying blamed for Australian child model's suicide
Australians are remembering a 14-year-old girl known as the angelic face of bushmen's hat brand Akubra Hats and whose family says she killed herself after being targeted by cyberbullying
12:39AM ( 7 hours ago )
AP Business - Corporate News
Turkey tells citizens to reconsider travelling to US
Turkey has warned its citizens about traveling to the United States, in retaliation for a new U.S. travel advisory about Turkey
7:25AM ( 14 minutes ago )
German leaders express confidence on forming new government
Chancellor Angela Merkel's conservatives and the center-left Social Democrats have taken a big step Friday toward forming a new German government
7:24AM ( 15 minutes ago )
The Latest: Trump defends immigration stance in tweet
President Donald Trump is calling a bipartisan immigration proposal "a big step backwards" and claiming that it would force the U.S. "to take large numbers of people from high crime countries which are doing badly."
7:24AM ( 15 minutes ago )
Saudi women to enter stadiums for first time to watch soccer
Saudi women to be allowed for first time into stadiums to watch soccer in the kingdom
7:24AM ( 16 minutes ago )
AP FACT CHECK: Trump claims London embassy is 'bad deal'
AP FACT CHECK: Trump claims new U.S. Embassy was Obama's 'bad deal,' but truth is more complex
7:18AM ( 21 minutes ago )