JPMorgan Q3 figures fall short of analyst estimates

New York

JPMORGAN Chase & Co, the first big US bank to report earnings after the third-quarter's market tumult, missed analysts' estimates and cautioned that trading is off to a tepid start this quarter.

The nation's largest lender said revenue fell 6.4 per cent in the three months ended Sept 30, driven by a slump in trading and mortgage banking results. Adjusted earnings per share were US$1.32, missing the US$1.38 average estimate of 29 analysts surveyed by Bloomberg. Revenue from fixed income trading tumbled 11 per cent, excluding the impact of selling businesses.