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JPMorgan 4Q profit falls 7 percent on legal costs
http://www.adn.com/2014/01/14/3272552/jpmorgan-returns-to-a-profit-in.htmlJPMorgan 4Q profit falls 7 percent on legal costs
By KEN SWEET
AP Markets Writer
January 14, 2014 Updated 6 minutes ago
NEW YORK — JPMorgan Chase said Tuesday that its profits fell 7 percent in the fourth quarter, hampered by more legal woes.
The bank had net income of $5.28 billion in the last three months of 2013, compared with a profit of $5.69 billion in the same period a year earlier.
On a per-share basis, JPMorgan said it earned $1.30 a share in the quarter, compared with $1.39 a share a year earlier. The bank's revenue fell 1 percent to $24.1 billion.
The bank's quarterly results had several one-time items, including a 27-cent-per-share charge related to legal expenses. On an adjusted basis, the bank said it earned $1.40 per share.
