NEW YORK — J.P. Morgan Chase said fourth-quarter net income came in at $4.8 billion, or $1.12 a share which his higher than $3.3 billion, or 74 cents a share, in the year-earlier period. Revenue also rose by 13%. This beats estimates by over 12%. J.P. Morgan was expected to earn $1 a share on revenue of $24.2 billion.
J.P. Morgan is the first major U.S. bank to report results. M&T Bank, the Buffalo area bank will report later this morning.
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