JPMorgan Chase (JPM) has reported second-quarter financial results that blew past Wall Street forecasts.
The largest commercial bank in the U.S. announced earnings per share (EPS) of $6.14 U.S. per share, which surpassed the $5.85 U.S. consensus expectation of analysts.
JPMorgan’s second-quarter profit rose 41% from a year earlier.
Revenue in the April through June period totaled $58.02 billion U.S., which was far ahead of the $50.19 billion U.S. forecast on Wall Street.
In the company’s earnings report, JPMorgan CEO Jamie Dimon said every major business unit within the bank posted record revenue during the quarter.
Dimon added that the “U.S. economy has demonstrated notable resiliency this year, with stronger business investment and hiring.”
Analysts had expected that JPMorgan Chase and the other big U.S. banks would post strong revenue from trading stocks and bonds during the second quarter.
JPMorgan and other banks also got a boost in the quarter from deals taking place on Wall Street, notably the blockbuster initial public offering (IPO) of SpaceX (SPCX) in June.
JPM stock has risen 16% in the last 12 months to trade at $334.53 U.S. per share.
