JPMorgan reports second-quarter net income of $21.2bn

JPMorgan Chase reported second-quarter net income of $21.2bn, or $7.70 per share. Hugh Son at CNBC reported the results. Excluding items the bank identified as significant, net income was $16.9bn, or $6.14 per share.

Reported revenue was $57.3bn. Managed revenue was $58.0bn. Return on equity was 24 percent. The board approved a higher quarterly dividend of $1.65 per share, effective in the third quarter. JPMorgan filed the results with the SEC on Form 8-K on July 14 and opened the large-bank reporting season. Bank of America, Goldman Sachs, Wells Fargo and Citigroup reported the same day. Wells Fargo posted earnings of $2 per share on revenue of $22.62bn.