that beat the consensus estimates of analysts polled by Bloomberg, reflecting strong growth in investment-banking fees and trading revenues.
"We earned $4.7 billion of net income in the second quarter despite building $8.9 billion of credit reserves because we generated our highest quarterly revenue ever, which demonstrates the benefit of our diversified global business model," CEO Jamie Dimon said in the earnings release. "We are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm," he said.
However, the commercial banking division swung from $1 billion in net income in the second quarter of last year to a net loss of $691 million, reflecting a $2.4 billion provision for credit losses.
Must be the heart surgery
No ring he lost.
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