The second-largest U.S. bank said net income attributable to shareholders rose to $4.35 billion in the three months ended March 31 from $3.02 billion a year earlier.
Earnings per share rose to 41 cents per share from 28 per share. (http://bit.ly/2px3E6G)
Total revenue, net of interest expense, rose 7 percent to $22.25 billion.
Big U.S. banks have been vitalized by increased market activity prompted by the so-called "Trump trade". They have also benefited from higher interest rates, which the U.S. Federal Reserve has indicated will be raised again this year.
JPMorgan Chase and Citigroup last week also reported better-than-expected quarterly profit, driven by increased trading activity.
(Reporting by Nikhil Subba in Bengaluru and Dan Freed in New York; Editing by Saumyadeb Chakrabarty)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)