Perhaps the biggest liability break came from the dismissal of lawsuits surrounding last year’s LIBOR scandal. Although JPMorgan Chase & Co. (NYSE:JPM) would likely have shared liability with Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), and a host of other LIBOR-setting banks, its share of potential damages of $176 billion from private suits could have left JPMorgan reeling.
In JPMorgan’s quarterly report, take some time to look past the headlines and focus on the performance of the bank’s various businesses. Last quarter, deposits, mortgage originations, credit card sales, and asset management loan balances all posted strong rises, and if those trends continue, then so should JPMorgan Chase & Co. (NYSE:JPM)’s record of share price advances.
The article JPMorgan Earnings: An Early Look originally appeared on Fool.com is written by Dan Caplinger.
Fool contributor Dan Caplinger owns warrants on JPMorgan Chase and (NYSE:JPM) Bank of America. You can follow him on Twitter @DanCaplinger. The Motley Fool owns shares of Bank of America, Citigroup, and JPMorgan Chase.
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