The third-largest U.S. bank by assets, like its peers, also benefited from a cut in income tax rates and an expanding U.S. economy that fueled demand for loans.
Net income rose to $4.49 billion in the second quarter ended June 30, from $3.87 billion a year earlier, driven by a 14 percent jump in net income for its global consumer banking.
Pretax profit from continuing operations increased 5 percent.
The bank's provision for income tax fell by $351 million, following President Donald Trump's corporate tax rate cuts.
Buybacks reduced shares outstanding by 8 percent from a year earlier, further boosting earnings per share.
Revenue rose about 2 percent to $18.47 billion but came in slightly below the average expectation of $18.51 billion as revenue from its investment banking business fell 7 percent.
The bank's fixed income trading revenue fell 6 percent, while equity trading revenue rose 19 percent. Total markets and securities services revenue fell 1 percent.
JPMorgan Chase & Co's quarterly profit topped Wall Street's expectations on Friday, as trading revenue came in much higher than expected and demand for loans increased on the back of a strengthening U.S. economy. [L4N1U943V]
(Reporting by Sweta Singh in Bengaluru and David Henry in New York; Editing by Sriraj Kalluvila)
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