Morgan Chase Reports 3Q Earnings

J.P. Morgan Chase, the corporate parent of Chase Home Finance, has reported earnings of $1.4 billion ($0.39 per share) for the third quarter, down from $1.6 billion ($0.78 per share) a year earlier.A net increase in the home finance unit's operating earnings contributed positively to the company's financial results, but was not enough to offset merger-related costs that dragged its quarterly earnings per share and net income to a level below last year's. Some mortgage-related business lines fared better than others during the quarter, but on a net basis the home finance unit's quarterly earnings were up $163 million from those of a year earlier, at $340 million. J.P. Morgan Chase can be found online at http://www.jpmorganchase.com.