JPMorgan reported quarterly earnings that met Wall Street expectations in profit but missed on revenue in what JPMorgan CEO Jamie Dimon called "modestly disappointing" results. The bank delivered fourth-quarter earnings excluding items of 90 cents per share, a decrease from $1.12 per share in the year-earlier period.  Full-year net income was $19 billion, down from $26.72 billion a year ago and well below analyst expectations of $23 billion. Quarterly net income was $3.72billion, down from $4.83 billion a year earlier. In its earnings announcement, the firm focused on the amount of credit it has been driving to the economy, after three years of weak lending following the financial crisis.  The firm provided $17 billion in credit to small businesses, a gain of 52 percent. "All of the firm's accomplishments and our success in the future rest on a foundation of capital strength and careful stewardship of the firm through this challenging economy and a new, complex regulatory environment," Dimon said in a statement. "We are working hard to help our clients thrive, economies grow and communities prosper." Though trading and investment banking activity showed signs of weakness, analysts said the bank's future direction looks positive. "I think the earnings show how well JPMorgan can be managed in one of the roughest times," said Mike Holland, founder of Holland and Co.  They were lagging in revenues but they were able to manage through that. Investment banking was predictably lousy. Trading was predictably lousy.  But they were able to pull off a meet-or-beat quarter." [Reuters 1/13/12]