JPMorgan Chase Reports Higher Than Expected Profits and Revenue in Q3 Despite Economic Headwinds

JPMorgan Chase reported a 35% increase in profits to $13.2 billion for the third quarter, beating expectations.

Revenue was up 21% to $40.7 billion, also exceeding forecasts.

CEO Jamie Dimon said the economy faces risks like high inflation, rising rates, the Ukraine war, and more.

JPMorgan showed its strength by acquiring most of failed First Republic Bank earlier this year.

A key measure of bank profitability, net interest income, rose 30% to $22.9 billion, beating expectations.