JPMorgan's 3Q Fixed-Income Trading Revenue Misses Estimates

What happened: JPMorgan Chase & Co. posted its first decline in more than two years in fixed income, currency, and commodities sales and trading revenue for the third quarter, missing the average analyst estimate. Key numbers: FICC sales and trading revenue $5.37 billion versus $6 billion estimate. Why it matters: FICC weakness came despite bond market volatility and yield swings, while equities exceeded estimates and was called the bright spot. Jamie Dimon said each line of business performed well and cited robust card business growth, and noted reduced share purchases this quarter. Market: +1.1% by next close ($335.31 on Oct 14), +4.0% YTD Coverage: 5 outlets in 24h

JPMorgan Chase & Co. posted its first decline in more than two years in fixed income, currency, and commodities sales and trading revenue for the third quarter, missing the average analyst estimate.

FICC weakness came despite bond market volatility and yield swings, while equities exceeded estimates and was called the bright spot. Jamie Dimon said each line of business performed well and cited robust card business growth, and noted reduced share purchases this quarter. Market: +1.1% by next close ($335.31 on Oct 14), +4.0% YTD