JPMorgan reports higher first-quarter profits
NEW YORK, April 12
NEW YORK, April 12 (Reuters) - JPMorgan Chase & Co posted an increase in first-quarter profits on Friday as the biggest U.S. bank benefited from lower expenses.
Net income rose to $6.53 billion, or $1.59 a share, from $4.92 billion, or $1.19 a share, a year earlier.
The year-ago results had been reduced by 12 cents a share due to costs from its "London Whale" derivatives trades. Results for both periods included other special items.
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