NEW YORK - JPMorgan Chase (JPM), the biggest U.S. bank by assets, says it returned to a profit in the fourth quarter.
The bank said it had net income of
$5.3 billion in the last three months of 2013, compared with a profit of $5.7
billion in the same period a year earlier.
On a per-share basis, JPMorgan said it
had earned $1.30 a share in the quarter, compared with $1.39 a share a year
Revenue fell 1 percent to $24.1
billion, just above analysts' expectations of $23.9 billion.
The bank reported a loss in the third quarter, due to the
bank's mounting legal costs. It was the bank's first quarterly loss in 10