INSTANT VIEW: JPMorgan earnings fall, beat forecast

NEW YORK (Reuters) - JPMorgan Chase & Co, the third-largest U.S. bank, said on Thursday that second-quarter profit fell, hurt by hurt by $1.1 billion in write-downs at the investment bank.

Net income fell to $2 billion, or 54 cents per share, from $4.2 billion, or $1.20 a share, a year earlier.

The earnings beat analysts' consensus forecast of 44 cents a share.

The following is reaction from industry analysts and investors:

ACHIM MATZKE, EUROPEAN STOCK INDEXES ANALYST AT COMMERBANK,

IN FRANKFURT

"The reaction is clearly regarding expectations. Through last week, the market got the impression that every bank was in trouble. But now with results coming from JP Morgan, as well as from Wells Fargo yesterday, it looks like these fears were not justified.

"The market was too skeptical about the sector. Now we see that not all the banks are in danger, and it has sparked short coverage on banking stocks all over Europe."

PETER BOOCKVAR, EQUITY STRATEGIST, MILLER TABAK & CO, NEW