JPMorgan earnings rise, boosted by investment bank

JPMorgan Chase & Co. on Wednesday said first-quarter earnings rose 55 percent, beating forecasts, as gains in investment banking and private equity outweighed weak growth in retail banking.

The strong results at the bank, which also raised its dividend and authorized a new $10 billion stock buyback plan, follow better-than-expected earnings at larger rival Citigroup earlier this week.

JPMorgan shares were up 2.6 percent in electronic trading after the results.

Read Full Article from Canada.com

- Posted: 2007-04-18 10:27:58

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