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.