JPMorgan Chase topped Wall Street’s quarterly profit estimates. America’s largest lender enjoyed higher bond-trading revenue after Britain’s decision to leave the European Union, as well as record loan volume. The bank’s profit of $1.58 a share in the three months through September compared with the $1.39 average estimate from analysts, even as the bank’s net income dropped 8% to $6.29 billion. Revenue of $25.5 billion topped analysts’ projections of $24.3 billion. Bond-trading revenue climbed 48% to $4.3 billion in the three months through September.
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