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Earnings: J.P. Morgan Profits Fall, Wells Fargo Profits Rise

By DMO Affiliate
JP Morgan Chase said its fourth quarter earnings came in at $1.30 per share, which missed estimates by $0.05. The bank blamed the miss on the $2.6 billion it paid in settlements linked to the Bernie Madoff scandal. Excluding the Madoff settlement and other one-time items, earnings came in at $1.40 a share. Revenue was down 1% from last year at $24.11 billion, but beat estimates of $23.68 billion. Time Warner Cable's board rejected a third bid by Charter Communications, according to a letter just released by Charter.
Earnings: J.P. Morgan Profits Fall, Wells Fargo Profits Rise




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