JPMorgan earns $15.3bn as it reduces share buybacks

JPMorgan Chase reported third-quarter net income of $15.3bn, up 6% from a year earlier, with earnings per share rising to $5.57 from $5.07. Reported revenue increased 8% to $50.2bn.

The bank reduced buybacks. It reported $664m in net common share repurchases and $4.4bn in common dividends. Chief executive Jamie Dimon said the bank was prioritizing investment in its business and support for clients.

Results included $658m in pretax investment securities losses, which reduced earnings by 18 cents a share. Markets revenue rose 15% to $10.3bn, with equities up 49% and fixed income down 4%. Average loans grew 10%, while average deposits rose 8%.