JPMorgan Chase’s Dimon upbeat on beating cancer

Written By Unknown on Rabu, 16 Juli 2014 | 18.18

Jamie Dimon's betting on Jamie Dimon.

The JPMorgan Chase boss, who revealed two weeks ago that he has a treatable form of throat cancer, said on Tuesday that he feels "great" and expects to make a full recovery.

"The board will be fully briefed on my condition, and they and I feel that when it's necessary to make additional disclosures, we will do that," Dimon said during the bank's call to discuss second-quarter earnings.

"I really do think the next disclosure I'm going to make will be in about seven or eight weeks, saying the therapy is over, I'm feeling better and the prognosis is excellent."

The 58-year-old CEO added that he will continue to be plugged in while he's out of the office undergoing treatment.

Dimon's upbeat comments came the same day the bank delivered better-than-expected earnings.

JPMorgan reported an 8 percent drop in profit that it blamed mostly on a pullback in trading of bonds and currencies.

Still, the results beat analysts' estimates, sending the shares up 3.5 percent, or $1.98, to close Tuesday at $58.27.

Net income fell to $5.99 billion, or $1.46 per share. Revenue dipped 3 percent to $24.45 billion.

Both JPMorgan and Goldman Sachs, which also reported second-quarter results on Tuesday, benefited from a smaller-than-expected hit to trading revenue.

Goldman posted a surprise profit after fixed-income revenue fell less than forecast and investment banking fees climbed. Earnings rose 5 percent, to $2.04 billion, while revenue gained 6 percent, to $9.13 billion.

The news sent Goldman's stock up 1.3 percent, to $169.17.


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