JPMorgan Chase Shares Rise 7% On Upbeat Q1 Results

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Shares of JPMorgan Chase & Co. (JPM) are rising more than 7% Friday morning after reporting better-than-expected first-quarter results.

Profit in the first quarter increased more than 50% to $12.62 billion or $4.10 per share from $8.28 billion or $2.63 per share in the same quarter a year ago. Analysts on average polled by Thomson-Reuters were expecting earnings of 3.41 per share.

Quarterly revenue grew 25% to $38.35 billion from last year’s $30.72 billion. The consensus estimate was for $36.23 billion.

Net interest income rose 49% year-on-year to $20.8 billion. Provision for for credit losses was $2.28 billion, up 56% from the previous year.

JPM is at $138.50 currently. It has traded in the range of $101.28-$144.34 in the last 52 weeks.

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