JPMorgan's pandemic boom ended with a 42% drop in quarterly profit. The bank is budgeting for loan losses as CEO Jamie Dimon sees challenges with inflation.
Bank says it is prepared for higher credit losses related to economic challenges and its exposure to RussiaGabby Jones for The Wall Street JournalJPMorgan Chase & Co.
’s first-quarter profit dropped 42%, weighed down by lower Wall Street fees and higher expenses., or $4.50 per share, a year ago. Analysts had expected $2.72 per share, according to FactSet.
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