JP Morgan: Earnings beat estimate, but profit down 4%

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JPMorgan Chase & Co reported lower third-quarter profit as investment banking fees fell with a slowdown in corporate dealmaking.

The first major US bank to announce results for the period, JPMorgan said earnings were $4.3 billion, or $1.02 a share, compared with $4.4 billion, or $1.01 a share, a year earlier.

The company's share count declined 3 percent from a year ago as it bought back stock.

Reuters