NEW YORK (
TheStreet) -- Financial sector ETFs were in the red Wednesday, after
(JPM - Get Report)
The second largest bank by assets reported a 67% growth in profits, but revenue was on the lighter side. Analysts had been hoping for a pickup in loan growth, but except for the commercial banking segment, which saw a 7% increase in loans over the corresponding previous quarter, all other segments saw lower loan balances.
The dim revenue outlook and continuing problems associated with its mortgage businesses -- the bank reported a $1.1 billion provision for credit losses arising from its real estate portfolios and a loss of $1.1 billion for the impact of increased servicing costs on the fair value of the firm's mortgage servicing rights asset, among other charges -- dampened expectation for solid earnings reports from Bank of America (BAC - Get Report), due to report on April 15, and Citigroup (C - Get Report) and Wells Fargo (WFC - Get Report), which report next week.
In addition, JPMorgan CEO Jamie Dimon said
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