(CNBC) JPMorgan Chase managed to throw off the most quarterly revenue in its history at the same time that the U.S. economy is in the throes of a sharp recession.
The bank posted $33.8 billion in second-quarter revenue, helping it earn a better-than-expected $4.69 billion in profit for the period, because of shrewd moves made under CEO Jamie Dimon to build up its investment bank in the years after the financial crisis.
Despite a massive recession, JPMorgan Chase just posted record revenue — here’s how the bank did it
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