JP Morgan Chase Reports Second Quarter Results
JP Morgan Chase this morning reported second quarter financial results (PDF). Chase's Card Services unit, which includes both card issuing and merchant acquiring businesses, reported revenues of $3.9 billion, up 3 percent over the same quarter last year.
On the issuing side, card charge volume was $75.6 billion, up 7 percent and average managed loans outstanding were $135.2 billion also up 7 percent. Chase opened a net of 2.8 million new accounts, up 27 percent.
Merchant processing volume was $141.2 billion, up 18 percent, on 4.7 billion transactions, up 21 percent.
Expenses overall increased only 1 percent.
Stumble It!
Add your comment... (note that all comments are reviewed before they're published)