JPMorgan Chase Beat Second-Quarter Earnings Estimates

JPMorgan Chase (JPM) beat the EPS estimates of $2.22 in the second quarter and posted an EPS of $2.29—25.8% growth on a YoY (year-over-year) basis. The bank benefited from loan book expansion, which resulted in net interest income growth of 9% and non-interest income growth of 4%. In line with the expectations, JPMorgan Chase’s revenues and net income declined sequentially due to weaker trading revenues partially offset by growth in the community banking, commercial banking, and asset management businesses.