Empresas y finanzas

JPMorgan profit falls on $4.4 billion trading loss

13/07/2012 - 12:04

(Reuters) - JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a lower second-quarter profit on a loss from whale-sized derivatives trades in its London offices.

The derivatives portfolio lost $4.4 billion before taxes for the period, up from the $2 billion disclosed on May 10, the company said on Friday.

Net income was $4.96 billion, or $1.21 a share, compared with $5.43 billion, or $1.27 a share, a year earlier. Results for both periods included special items.

(Reporting by David Henry and Jed Horowitz in New York; Editing by Lisa Von Ahn)