JPMorgan Chase & Co. reported a smaller-than-feared drop in third-quarter profit on Friday, as a rise in interest income cushioned a blow from higher loan loss provisions and a slump in dealmaking due to a worsening economic outlook.
Shares of the largest U.S. bank rose nearly 4 percent after the results, which are being closely watched to assess the real impact on corporate America of the Federal Reserve’s aggressive interest rate hikes to tamp down inflation.
