JPMorgan Chase Reports Fourth-Quarter 2010 Results

null | Jan 14, 2011

January 14, 2011

New York| JPMorgan Chase & Co. (NYSE: JPM) today reported fourth-quarter 2010 net income of $4.8 billion, an increase of 47% compared with $3.3 billion for the fourth quarter of 2009. Earnings per share were $1.12, compared with $0.74 for the fourth quarter of 2009. Full-year 2010 net income was $17.4 billion, an increase of 48% compared with $11.7 billion for the prior year. Earnings per share were $3.96, compared with $2.26 for 2009

Jamie Dimon, Chairman and Chief Executive Officer, commented: "Solid performance in the quarter and for the year reflected good results across most of our businesses, which benefited from strong client relationships and continued investments for growth."

Dimon concluded: "Through the outstanding efforts of our 239,000 employees around the world, our Firm has come through the worst economic storm in recent history stronger than we have ever been. We never stopped innovating and investing in the products that support and serve our clients and the communities where we do business. Although we continue to face challenges, there are signs of stability and growth returning to both the global capital markets and the U.S. economy. We are well positioned with the capital strength necessary to make the right investments to take advantage of these opportunities for the benefit of our shareholders."

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