JPMorgan profit up on fixed-income trading rebound

Jamie Fonzie Dimon

JPMorgan Chase delivered quarterly earnings that topped analysts' expectations on Tuesday, as revenue from fixed-income trading rebounded.

JPMorgan's shares moved higher in premarket trading following the announcement. 

The biggest bank in the U.S. by assets posted first-quarter earnings of $5.91 billion, or $1.45 per share, from $5.27 billion, or $1.28 per share, a year earlier.

The results included an after-tax charge of $487 million for legal expenses.

Revenue rose to $24.8 billion from $23.86 billion a year ago.

Wall Street had expected the company to deliver quarterly earnings per share of $1.40 on $24.41 billion in revenue, according to consensus estimates from Thomson Reuters.

Shares of the U.S. bank have risen 12 percent over the past 12 months, outpacing the nearly 2 percent drop in the S&P 500's financial sector.

Financials are the second worst performing sector in the S&P so far this year.

-Reuters contributed to this report.

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