JP Morgan Chase beats Q2 consensus for profit and revenues

(Sharecast News) - JP Morgan bested the consensus estimate for quarterly earnings and revenues. It also announced a new $50bn share buyback programme.

For the three months ending in June, the Wall Street heavyweight posted profit of $14.99bn or $5.24 per share.

That was less than the $18.15bn or $6.12 per share that it achieved during the same period one year before, but nevertheless came in ahead of the $4.48 of earnings share anticipated by analysts.

Second quarter revenues also declined in comparison to their year earlier level, from $50.2bn to $44.9bn.

But that too topped analysts' estimates for $43.81bn.

The quarterly dividend per shares was raised from $1.40 to $1.50.

As of 1157 BST, the lender's shares were edging up by 0.51% to $290.10-

-- More to follow --