The banking giant posted second-quarter earnings of $1.54 per share, up from $1.46 a share in the year-earlier period.
Revenue fell to $24.5 billion from $25.35 billion a year ago.
Analysts expected to post earnings of $1.44 per share on revenue of $24.51 billion, according to a consensus estimate from Thomson Reuters.
JPMorgan shares rose in premarket trading following the announcement. (Get the latest quote here.)
Revenue from fixed-income trading fell 21 percent to $2.93 billion. Adjusted for the sale of a physical commodities businesses last year, it would have fallen 10 percent.
JPMorgan and Wells Fargo kick off a week in which a slew of large banks report quarterly earnings.
JPMorgan shares have climbed nearly 9 percent this year. They have outperformed the broader banking sector, as the S&P 500 Financials sector is nearly flat in the same period.
Investors have looked for the bank to trim costs amid a tougher regulatory environment. JPMorgan will create 1,000 jobs and move more than 2,500 from New York City to New Jersey, receiving annual tax credits per job of $500 to $5,000, state authorities said last week.
JPMorgan reportedly plans to cut more than 5,000 jobs by next year. Despite efforts to trim its workforce, the bank still hires about 40,000 employees annually.
-CNBC's Terri Cullen and Reuters contributed to this report