PMorgan's Jamie Dimon Says Pandemic is Moving to the Rearview Mirror (October 13, 2021) JPMorgan's third-quarter profit rose 24%, though that was largely thanks to a release of rainy-day funds socked away during the pandemic's darkest days. Revenue was up just 1% and below Wall Street expectations. Bank earnings have been on a wild ride since last year. Early in the pandemic, the firms stockpiled billions of dollars to prepare for the coronavirus recession, sending profits sharply lower. But the economy bounced back much more quickly than expected. Banks have been releasing those reserves for several quarters, sending their profits sharply higher. Now investors are trying to figure out what the new normal looks like for the industry. In total, JPMorgan posted a profit of $11.69 billion, or $3.74 per share, up from $9.44 billion, or $2.92 a share, a year ago. That beat the $3 a share that analysts had expected, according to FactSet. Excluding the boost from the release and a tax benefit, the bank's profit was $9.6 billion in the third quarter. Revenue rose 1% to $29.65 billion, falling just short of the $29.79 billion analysts had forecast. JP Morgan shares cooled off Wednesday following the earnings