JPMorgan earns $1.36 a share, missing estimates

JPMorgan Chase, the nation's largest bank by assets, reported $1.36 a share in earnings in the third quarter, up from a loss of 17 cents a share a year earlier. Analysts surveyed by FactSet had expected $1.38 a share.

Revenue rose to $24.2 billion from $23.1 billion.

JPMorgan (JPM) shares were down 44 cents, to $57.72, in mid-morning trading.

The recent swings in world markets may have helped the $2.5 trillion bank holding company, says Chris Mutascio, analyst at Keefe, Bruyette & Woods. "Volatility has increased trading volumes." Trading volume is more important to the bank's earnings than the direction of the markets.

Loan growth was also strong: Commercial real estate lending rose 13%, the company says.

JPMorgan Chase paid $20 billion in fines and penalties last year for its role in the run-up to the 2007-2009 financial crisis, and analysts say that the bank's legal woes are probably not over. The scandal over the setting of LIBOR, a key lending rate, hasn't been settled yet, for example. "I don't think everything is done on the legal side," Mutascio says.

The company, which announced that hackers had breached the companies, gaining access to information from 76 million customers, said, "We are taking every step to protect customers and firm."

The bank also has an issue: CEO Jamie Dimon's health. Dimon recently finished chemotherapy and radiation for throat cancer. In a conference call with analysts and reporters Tuesday, Dimon said his prognosis is excellent.