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JPMorgan Earnings Fall 18.5% on Slowdown in Trading and Mortgage Lending

“JPMorgan Chase reported an 18.5 percent slump in first-quarter earnings on Friday, as the nation’s largest bank grappled with dual challenges: sluggish revenue from trading and lackluster mortgage lending.”

“Both issues, broadly buffeting the banking industry, damped profits at JPMorgan.”

“The net earnings of $5.27 billion, or $1.28 a share, came in slightly below Wall Street analysts’ expectations of $1.40 a share on revenue of $24.53 billion.”