NEW YORK (TheStreet) -- Shares of JPMorgan Chase and Co. (JPM) are climbing 2.86% to $57.90 in pre-market trading on Tuesday after the company reported financial results for the 2014 second quarter that exceeded analysts' expectations.
The investment banking and financial services company reported earnings per share of $1.46 for the most recent quarter, compared to $1.60 for the 2013 second quarter, but surpassing the $1.29 expected by analysts polled by Thomson Reuters.
JPMorgan's net income was $6 billion compared to $6.5 billion from the prior year's second quarter.
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JPMorgan posted a 2% decline in revenue for the 2014 second quarter to $25.3 billion, but exceeded analyst expectations of $23.76 billion, Market News Call reported.
Separately, TheStreet Ratings team rates JPMORGAN CHASE & CO as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate JPMORGAN CHASE & CO (JPM) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."