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http://www.marketwatch.com/news/story.asp?guid=%7B664BBD6A%2D4D0C%2D4404%2D8027%2DFA652727D9AF%7D&siteid=mktwNEW YORK (MarketWatch) -- J.P. Morgan Chase said Wednesday that strong investment banking results and profitable trading, particularly in the energy markets, lifted third quarter net income 78% from a year ago.
Also Wednesday, J.P. Morgan said it promoted Jamie Dimon to chief executive, six months early. He succeeds William Harrison, who will remain chairman. See full story.
J. P. Morgan (JPM), which ranked second to Citigroup (C) in terms of underwriting volume in the quarter, said third-quarter net income rose to $2.5 billion, or 71 cents a share, from $1.42 billion, or 39 cents a share, in the year-ago period.
Excluding Bank One merger charges of $221 million, or 4 cents a share, operating earnings would have been $2.7 billion, or 75 cents a share.
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