third-quarter profit rose 36% from a year earlier, thanks to a surge in deal making.
The New York bank reported profit of $3.71 billion, or $1.98 a share. That exceeded the $1.69 expected by analysts polled by FactSet. Revenue was up 26% to $14.75 billion. That beat the expected $13.93 billion.
Advisory revenue more than tripled to $1.27 billion, powered by an industrywide boom in mergers and acquisitions.
Trading revenue also rose. JPMorgan Chase & Co. said Wednesday that its third-quarter trading revenue fell 5%.
Write to Orla McCaffrey at email@example.com
Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8