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JPMorgan Beats Q3 Earnings Forecast;Credit Provisions Tumble

JPMorgan Chase & Co.  (JPM) – Get Report posted stronger-than-expected third quarter earnings Tuesday as the bank set aside a much lower amount to cover ad loans amid an improving domestic economy.

JPMorgan said earnings for the three months ending in September were pegged at $9.4 billion, or $2.92 per share, up 9% from the same period last year and well ahead of the Street consensus forecast of $2.22 per share. Group revenues, JPMorgan said, slipped 0.66% to $29.9 billion, again topping analysts’ forecasts of a $28.3 billion tally.

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