Higher expenses, lower profits from venture capital investments, and a sluggish quarter for underwriting and loan syndications combined to create two very different results at the soon-to-be-merged Chase Manhattan Corp. and J.P. Morgan & Co.

Chase said third-quarter profits fell 24% from the same period last year, to $905 million, and per-share earnings of 68 cents fell 25 cents short of Wall Street’s consensus. Morgan said profits rose 16%, to $514 million, and earnings per share of $2.77 beat the consensus by 15 cents.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.