Finance: JPMorgan lost $143 million on a single trading client in the fourth quarter (JPM)

In an already wonky quarter, JPMorgan reported a $143 million loss in its equities trading department from one single client.

• In an already wonky quarter, JPMorgan reported taking a $143 million loss in its equities trading department from one single client.
• The department had strong equities performance apart from that one client loss.

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After accounting for effects from tax reform, JPMorgan posted a solid quarter, announcing earnings of $1.69 share Friday.

Its trading business, expectedly, declined — fixed income revenues dropped 27% after including effects from tax reform.

But it was the equities team that posted the most interesting figure: It took a $143 million loss from a single client.

Apart from that hit, the equities business actually had a solid performance. Here's what JPMorgan said about the peculier loss in its earnings presentation (emphasis ours):

"Equity Markets revenue was flat compared to a strong prior year and included the impact of a mark-to market loss of $143 million on a margin loan to a single client. Excluding the mark-to-market loss, Equity Markets revenue was up 12%, driven by strength in Prime Services, Cash Equities and corporate derivatives."

We expect to hear more after JPMorgan reports earnings to investors and takes their questions.

In an already wonky quarter, JPMorgan reported a $143 million loss in its equities trading department from one single client. Read Full Story