JPMorgan Chase, Citigroup and Wells Fargo Post Stable Earnings Despite Low Rate Environment

The big banks - JPMorgan Chase (JPM) - Get Report , Citigroup (C) - Get Report and Wells Fargo (WFC) - Get Report held their own in second quarter earnings reports this week, despite a tough environment for the financials sector rocked by low interest rates. JPMorgan reported earnings per share of $1.55 a share, beating estimates of $1.43. Revenue of $25.2 billion eclipsed estimates of $24.2 billion and was up three percent year-over-year. A bright spot for the bank was trading revenue, which rose 23 percent year-over-year to $5.56 billion. Citigroup announced better than expected results on both the top and bottom lines. Earnings stood at $1.24 a share, ahead of Wall Street's forecast of $1.10. Revenue of $17.55 billion beat estimates of $17.47 billion, but was 8.4 percent lower than last year. Wells Fargo posted profit of $1.01 a share - in line with estimates. Profit fell almost three percent year-over-year to$5.56 billion. Revenue of $22.2 billion also matched estimates of $22.17 billion. Wells Fargo and Citigroup are holdings of Jim Cramer's charitable trust, Action Alerts PLUS. TheStreet's Scott Gamm reports from Wall Street.