JPMorgan's Profit Jumps on Dealmaking, Trading Boost
April 11 (Reuters) - JPMorgan Chase's first-quarter profit rose 9% as it earned more from dealmaking and trading.
Earnings were $14.6 billion, or $5.07 a share, for the three months ended March 31, the biggest U.S. bank said on Friday. That compares with $13.4 billion, or $4.44 a share, a year earlier.
Investment banking fees rose 12% to $2.2 billion. Trading revenue climbed 21%, higher than the earlier expectations of a low double-digits percentage gain.
The shares gained 2.8% in premarket trading.
Business was largely buoyed by optimism in the first quarter that U.S. President Donald Trump would enact pro-growth policies, ease regulations and lower taxes.
However, the uncertainty surrounding the trade policy has upended those hopes and fueled market turbulence. Trump last week unveiled steep reciprocal tariffs on dozens of countries, only to pause many of them on Wednesday.
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