JPMorgan Chase posted second-quarter earnings of $5.24 per share, topping Wall Street’s expectations of $4.48. On an adjusted basis, excluding a significant item for the quarter, the bank reported second-quarter profit of $4.96.
Net income of $15 billion fell 17% from a year ago. Net income on an adjusted basis was $14.2 billion.
The significant item impacting results was a $774 million income tax benefit, resulting in an added 28 cents to per-share earnings, the bank said.