Net income of the largest bank in the United States reached $ 8.52 billion, or $ 2.57 per share, for the quarter ended December 31, compared to $ 7.07 billion, or 1.98 $ per share, a year earlier. Net revenues increased 9% to $ 29.21 billion.
Analysts on average expected the bank to earn $ 2.35 a share on revenue of $ 27.94 billion, according to data from Refinitiv.
JPMorgan's shares rose almost 2% in pre-market trading.
The strength of bond trading has boosted overall trading revenue, allaying concerns about the impact of the US-China trade dispute and slowing global growth.
"Although we are faced with a high and continuous level of complex geopolitical problems, global growth has stabilized, albeit at a lower level, and the resolution of certain trade problems has helped to sustain the Customer and market activity towards the end of the year, "said Jamie Dimon, CEO of JPMorgan. in a report.
Income from fixed income transactions jumped 86% to $ 3.4 billion from a year ago when volatile trading conditions hit the bond markets. Stock market revenues increased 15% to $ 1.5 billion.
The solid performance of the bank's trading desk compensated for a surprise weakness in consumer banking services.
Personal and commercial banking revenues decreased 2% to $ 6.4 billion, mainly due to lower deposit margins. Revenues from home loans declined 5% to $ 1.3 billion.
Total loans, excluding home loans, increased 3% during the quarter. Home loans fell 17%.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "JPMorgan's results kick off the earnings season for US banks and are widely seen as a barometer of the health of the economy. Wells Fargo & Co
(Reporting by Anirban Sen in Bangalore and Elizabeth Dilts Marshall and Sweta Singh in New York; Editing by Saumyadeb Chakrabarty)