JPMorgan Profit Jumps on Reserve Release

JPMorgan Chase & Co.’s third-quarter profit rose 24% thanks to a release of rainy-day funds socked away during the pandemic’s darkest days.

The bank posted a profit of $11.69 billion, or $3.74 per share, up from $9.44 billion, or $2.92 per share, a year ago. That beat the $3 per share that analysts had expected, according to FactSet.