Energy trading helps JP Morgan post record results
Energy-trading revenues played a big role in bringing JP Morgan a 2005 third-quarter net profit of $2.5 billion, up from $1.4 billion in 2004. This was on the back of third-quarter net revenues of $15.6 billion, up from $13.6 billion in the same period last year.
Fixed-income markets posted an operating profit of $1.1 billion, up $436 million, or 70%, from $627 million in 2004, and up 75% from the previous quarter.
Beau Taylor, JP Morgan’s newly promoted global
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