JPMorgan set aside more than $1 billion to cover potential bad loans as it posted

Get JP Morgan Chase & Co. Report posted weaker-than-expected second quarter earnings Thursday as loan growth slowed amid inflation

JPMorgan said earnings for the three months ending in June were pegged at $8.6 billion, or $2.76 per share, down 27% from the same period last year

The bank also built $1.1 billion in reserves to set against bad loans and credit losses, linked in part to the 'deteriorating' economic outlook

Managed revenues, JPMorgan said, rose 0.6% from last year to $31.6 billion, again missing analysts' estimates of a $31.96 billion tally

Net interest income was $15.2 billion, up 19% from the same period last year, but that failed to offset a 61% slump in investment banking revenues

“In our global economy, we are dealing with two conflicting factors, operating on different timetables," said CEO Jamie Dimon

JPMorgan shares were marked 4.2% lower in early afternoon trading following the earnings release to change hands at $107.26 each