Daily Mail UK - 13 July 2012 The bank said it earned $5billion, or $1.21 per share, for the second quarter, which covers April through June and includes the bank's disclosure of the trading loss on May 10.
This marks an unexpected profit, as analysts surveyed by FactSet, a provider of financial data, had expected JPMorgan to earn 76 cents per share.
JPMorgan's stock climbed $1, or 3 per cent, to $35.05 after Dimon seemed to indicate that the losses from the trade were contained. Dimon said that the trade might not lose any more money. Investors were also cheered to hear that the bank might resume its plan to buy back its own stock. Dimon said the bank was in discussions with the Federal Reserve and would submit a plan in hopes of buying back stock starting late this year.