UPDATE: J.P. Morgan Reports Drop In Q4 Profit

J.P. Morgan Chase & Co JPM reported a decline in its fourth-quarter net profit on Friday. J.P. Morgan's quarterly net profit dropped to $3.7 billion, or $0.90 per share, from $4.8 billion, or $1.12 per share, in the year-ago period. Its revenue fell to $22.19 billion from $26.72 billion. However, analysts were expecting a profit of $0.93 per share on revenue of $23.06 billion. J.P. Morgan shares fell 1.76% to $36.20 in pre-market trading.