JPMorgan Chase & Co. Friday reported a net loss of 0.4 billion US dollars for the third quarter of 2013 after spending 7.2 billion dollars on legal expenses in the quarter.

The net loss in the third quarter came after a 6.5 billion dollars of net income in the second quarter and it was 5.7 billion dollars in the previous year. Earnings per share for the third quarter were 0.17 dollars, sharply down from 1.40 dollars in the same period of last year.

The banking group's revenue for the quarter was 23.9 billion dollars, compared with 25.9 billion dollars for the same quarter in the prior year.

The company's pretax legal expenses reached 9.2 billion (7.2 billion dollars after tax) in the third quarter. It said that with these items included, the third-quarter net income would have been 5.8 billion dollars, or 1.42 dollars per share.

The company agreed on Sept. 19 to pay about 1.3 billion dollars to settle charges from US and U.K. regulators for record trading loss in 2012 and other issues.

"While we had strong underlying performance across the businesses, unfortunately, the quarter was marred by large legal expense," said Jamie Dimon, chairman and chief executive officer of JPMorgan.

Despite the massive legal losses, Dimon said the firm showed strong performances in investment banking, equity markets trading, consumer banking and asset management.

JPMorgan shares traded in New York opened at 52.96 dollars and was around 52.5 dollars about an hour after the opening bell.