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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO
MARK HAINES, CNBC ANCHOR: JPMorgan reporting about 30 minutes ago. David Faber has been looking over the numbers.
FABER: I have indeed and in order to go over those numbers I think we are going to be joined by -- or we are -- joining us "First on CNBC" to discuss results, Mike Cavanaugh, he`s the chief financial officer at JPMorgan Chase.
Mike, good to have you with us.
MICHAEL CAVANAGH, CFO, JP MORGAN CHASE & COMPANY: Good morning, David. Thanks for having me.
FABER: For your first time on CNBC.
CAVANAGH: That`s right, thanks.
FABER: First of many, we hope. Looks pretty good this quarter, you know, let`s get right to some of the things in the release here.
CAVANAGH: Sure.
FABER: Your new CEO-to-be, very, very soon, says you remain intensely focused on harvesting further efficiencies from your merger while strategically investing for growth. What he is talking about?
CAVANAGH: Well, you know, you saw in this quarter we had 75 cents of operating earnings, a little bit ahead of consensus of 72. It included a charge for Katrina of 7 cents, $400 million pre-tax, and that was really driven by great strength across all the businesses. The investment bank had $1.1 billion of profits on record revenues, and our asset and wealth...
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