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AP National Business

JPMorgan 4Q earnings fall 14%, but 2021 profit sets record

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Published 6:45 AM

By KEN SWEET
AP Business Writer

NEW YORK (AP) — JPMorgan Chase says fourth-quarter profits fell 14% from a year earlier, due to a weaker performance from its trading desk and higher compensation expenses for employees. Even with the weaker quarter, JPMorgan had a record annual profit, nearly $50 billion. The total is significantly more than what the bank brought in during 2019, before the pandemic. .The New York-based financial giant on Friday reported a profit of $10.4 billion, or $3.33 per share, for the fourth quarter. That’s down from a profit of $12.14 billion, or $3.79 a share, in the year-ago quarter. While JPMorgan’s profits fell, the results were still better than what analysts had forecast.

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