JPMorgan Chase's reported on Wednesday a more than 50% jump in net income for the fourth quarter, primarily helped by growth in revenue.
The US financial services firm's earnings, as well as revenue, beat analysts' expectations.
JPMorgan posted net income of $14 billion, or $4.81 per share, for the fourth quarter, compared with $9.3 billion, or $3.04 per share, in the same quarter a year ago.
On average, 12 analysts expected earnings of $4.04 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter grew to $42.7 billion from $38.5 billion in the previous year. The consensus estimate was for $41.56 billion.
Provision for credit losses was $2.6 billion, lower than $2.7 billion last year.
JPMorgan's investment banking revenue grew 46% to $2.6 billion.
2025-01-15T13:20:32Z