JPMorgan Beats Q4 Earnings On Reserve Release, Soaring M&A Fees

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The Street

By Martin Baccardax “Unprecedented M&A; activity”, as well as the release of $1.8 billion in provisions set aside for bad loans, helped JPMorgan top the Street’s Q4 earnings forecast. JPMorgan Chase (JPM) – Get JPMorgan Chase & Co. Report posted stronger-than-expected fourth quarter earnings Friday, thanks in part to solid gains from investment banking fees and the release of reserves set aside during the peak of the Covid pandemic. JPMorgan said earnings for the three months ending in December were pegged at $10.4 billion, or $3.33 per share, down 12.1% from the same period last year but well…

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