JPMorgan beats forecast, earns $5 bn in Q2

JPMorgan Chase is reporting net income of $5 billion, or $1.21 per share, for April through June. Analysts surveyed by financial data provider Factset expected 76 cents per share.

The bank says net income was down from $5.4 billion in the same period a year ago.

The bank says second-quarter revenue was $22.9 billion, compared with an estimate of $21.8 billion.

JPMorgan Chase stock is down 26 cents in premarket trading at $33.80.