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Jamie Dimon
JPMorgan profit falls, hit by legal costs and lower trading
JPMorgan profit falls, hit by legal costs and lower trading

JPMorgan Chase & Co. reported a 7% drop in fourth-quarter earnings Wednesday, hit by more legal costs and a drop in trading revenue. JPMorgan, the biggest U.S. bank by assets, said it earned $4.9 billion, or $1.19 a share, for the final three months of the year. That compares with a profit of nearly $5.3 billion, or $1.30 a share, for the previous year’s last quarter. Total revenue fell 3% to $22.5 billion from $23.2 billion for the previous year’s fourth quarter. The results were hurt by a $990-million after-tax charge for legal expenses, more than analysts expected. The bank's results have been impacted by various legal costs over the last several quarters as it...

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