JPMorgan Chase & Company (JPM): Misses By $0.02

Yes JPMorgan Chase & Company (JPM) missed fourth quarter earning per share by $0.02, reporting $0.90 per share versus Zacks consensus of $0.92.

The numbers were worse than the $1.12 earned last year.

Earnings this quarter included significant nonrecurring items.

A 9 cent loss from debit valuation adjustment gains in the Investment Bank

An expense for additional litigation reserves of 8 cents.

A benefit from reduced loan loss reserves of 11 cents.

Excluding these items, JPMorgan’s earnings came in at 96 cents per share.

Results for the quarter were primarily hurt by a substantial decrease in revenue.

Year-to-date JPM is up +8.82%, closing Friday (1/13/12) at $35.92.

JPMorgan Chase & Company

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