JPMorgan Chase reported Q1/17 net income of $6,448 million, up $928 million or 17% from $5,520 million in the same quarter a year earlier. Earnings per share of $1.65 topped analysts’ estimates of $1.52. Net revenue of $25,585 million was up $1,503 million or 6% from Q1/16.
The following highlights were excerpted from the news release:
Jamie Dimon, chairman and CEO said, “We are off to a good start for the year with all of our businesses performing well and building on their momentum from last year. We demonstrated the strength of our Corporate and Investment bank platform, growing revenue strongly in Banking and Markets and maintaining leadership positions. Commercial Banking continued its solid performance with record revenue and net income this quarter. Dimon concluded, “U.S. consumers and businesses are healthy overall and with pro-growth initiatives and improving collaboration between governments and business, the U.S. economy can continue to improve. We will be there to do our part, strong and steadfast in good times and bad, and working every day to support our clients and our communities.”
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