JPMorgan Chase Posts Third Quarter Profit but Legal Costs Remain

JPMorgan Chase, the largest U.S. bank by assets, reported earnings Tuesday morning. They came in slightly lower than Wall Street expectations but the bank beat revenue expectations by reporting third-quarter revenue of $25 billion, as opposed to estimates of $24 billion. Revenue was boosted by its fixed income trading operations and its asset management division. But the banks legal bills and regulatory expenses caused it to lose around $380 million. CEO Jamie Dimon said in a conference call to reporters that he sees a broad bases recovery for the U.S. economy despite the turbulence in the global economy.