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JPMorgan Chase beats EPS consensus by wide margin as it releases another $2.1 billion of loan loss reserves

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JPMorgan Chase beats EPS consensus by wide margin as it releases another $2.1 billion of loan loss reserves
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JPMorgan Chase & Co. on Wednesday said its third-quarter net income increased to $11.69 billion, or $3.74 a share, from $9.44 billion, or $2.92 a share, in the year-ago period. Revenue increased to $29.65 billion from $29.3 billion while net revenue managed increased to $30.44 billion from $29.94 billion. Net interest income increased by 1% to $13.2 billion. The earnings included credit reserve releases of $2.1 billion. Analysts expected the bank to earn $3 a share on revenue of $29.79 billion,