JPMorgan reported a profit loss of $0.17 per share, whereas EPS from its core operations was $1.42. A large addition to the litigation reserves in the quarter was cited as the main reason which led to the loss. Core EPS performed better as the company lowered its provisions for credit losses after witnessing improving credit quality trends and cut down its compensation costs for the quarter. Revenues from all segment except Asset Management declined from the same quarter in the previous year. Currently, the company has around $23bn left in its litigation reserves. The management expects that within reasonable estimates, an additional $5.7 billion will be required to resolve all other remaining litigations, including the one with the Department of Justice.
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