J.P. Morgan posts record Q1 profits but revenues disappoint

J.P. Morgan Chase & Co. has reported quarterly profit rose 67%, but revenue at the US bank remains under pressure amid sluggish loan growth and mounting mortgage costs.

The New York bank's Q1 profit jumped to $5.6bn, or $1.28 a share, the biggest quarterly profit in its history. It rose from $3.3bn, or 74 cents a share, a year earlier, the Wall Street Journal reports. The profit beat Wall Street's expectations, but was largely the result of having to set aside less money to cover loan losses. Revenue fell 9% to $25.2bn, disappointing investors hoping for an improved figure. The bank is wrestling with rising regulatory expenses and flat loan demand. Big bank stocks slipped Wednesday, with J.P. Morgan Chase & Co. closing down 50 cents, or 1.07...