Profit tumbles 12.9 percent at J.P. Morgan Chase & Co.

Knight Ridder/Tribune Business News,  October, 2004  

Tags: J.P. Morgan Chase & Co.

• E-mail
• Print
• Link

By Mark Skertic, Chicago Tribune Knight Ridder/Tribune Business News

Oct. 21--"Disappointing" and "terrible" were the words J.P. Morgan Chase & Co. executives used Wednesday to describe the bank's third-quarter earnings.

The nation's second-largest bank reported a 12.9 percent drop in earnings, a decrease blamed on weak fixed-income trading results and costs from the merger this year with Bank One Corp.

"They're terrible results, we don't feel good about it," said Jamie Dimon, the former Bank One chief executive who is president of the ...

Read the rest of this article with a Free Trial at HighBeam Research.