JPMorgan profit rises as fixed-income trading rebounds

[NEW YORK] JPMorgan Chase & Co, the biggest US bank by assets, reported a 12.2 percent rise in quarterly profit as revenue from fixed-income trading rebounded.

The bank's net income rose to US$5.91 billion, or US$1.45 per share, in the first quarter ended March 31, from US$5.27 billion, or US$1.28 per share, a year earlier.

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

Analysts on average had expected earnings of US$1.40 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the results reported on Tuesday were comparable.

REUTERS