JP Morgan (JPM) announced earnings.
The second-quarter net income of $4.2 billion compared with net income of $3.5 billion for the second quarter of 2006. Earnings per share of $1.20 were up 21% compared with $0.99 per share in the second quarter of 2006.
But, JPM’s critical investment banking unit saw reveue fall 7% from Q1 to $5,798 billion. Net income dropped 23% to $1.179 billion.
Maybe the growth engine is losing steam
Douglas A. McIntrye
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