ISI Sees $4.2 Bln JPMorgan Loss

Chief investment office’s trading loss likely to cut Q2 earnings to 65 cents a share, ISI says.

JPMorgan Chase & Co., the largest U.S. bank, may report a $4.2 billion second-quarter trading loss in its chief investment office, according to an estimate by International Strategy & Investment Group Inc.

The pretax loss would help cut second-quarter earnings to 65 cents a share, a 30 percent decline from an earlier estimate of 93 cents, Ed Najarian, an ISI analyst, said in a note yesterday. Weaker-than-expected trading and investment banking revenue coupled with mark-to-market private-equity losses will also weigh on results, Najarian said.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.