JPMorgan Earns $5B Profit in Q2, Loses $4.4B on Trades

JPMorgan Chase & Co. (NYSE:JPM) announced the second quarter results on Friday, reporting the net profit of $5 billion or $1.21 per share, which is 9 percent down from the same quarter a year ago. Overall, the revenues in April-June quarter stood at $22.9 billion. Last year, the bank's second quarter turnover was $27.4 billion turnover with a net profit of $5.4 billion.

Though revenues and net profits have fallen in the second quarter this year, they are much better than what analysts had estimated. Analysts were expecting $0.90...