JPMorgan Chase Posts $5.75 Non-GAAP EPS as Revenue Misses

JPMorgan Chase posted third-quarter non-GAAP earnings per share of $5.75, missing estimates by $0.19 as revenue fell short despite 8.1% annual growth.

Revenue reached $50.9 billion, which was $320 million below expectations. The bank’s provisions for credit losses totaled $2.7 billion during the quarter.

Net charge-offs came to $2.2 billion, down $389 million, with wholesale banking driving the decline. JPMorgan Chase also recorded a $539 million net reserve build, primarily in wholesale banking.