JPMorgan Chase reported Pretax Earnings of $6,950 mil in the 4Q 2012, which was up a very robust 46% from the $4,747 mil earned in the 4Q 2011. This was clearly an exceptionally strong quarter for JP Morgan Chase.
For the year 2012, JPMorgan Chase reported Pretax Earnings of $28,917 mil, up 8% over the $26,749 mil earned in annual 2011. And this $2,168 mil earnings increase was despite roughly $5 bil of Trading Losses made by its CIO's sector in its synthetic credit portfolio in the first half of 2012.
Clearly, JPMorgan Chase is extremely solid financially, and has the financial flexibility and wherewithal to easily deal with significantly negative events like the above $5 bil of Trading Losses.
If only they would write down the principal balance of more of their underwater home mortgages.
