J.P. Morgan Chase Earnings Below Expectations
Fourth-quarter earnings were 37 cents a share, down from $1.09 a share in the year-ago period, as losses on venture capital investments and a slowdown in trading revenues weighed on the newly merged firm. The consensus estimate from First Call/Thomson Financial was for 45 cents. Operating income was $763 million, down sharply from $2.2 billion in the prior year.
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