JPMorgan stock (JPM) jumped 6% after the U.S.'s largest bank said its first-quarter profit rose to $12.62 billion, or $4.10 a share, from $8.28 billion, or $2.63 a share, in the year-ago quarter.
Revenue increased to $38.35 billion from $30.72 billion. JPMorgan beat the earnings estimate of $3.41 a share and surpassed the revenue mark of $36.13 billion, according to analyst forecasts compiled by FactSet.
Prior to Friday's trades, JPMorgan Chase stock was down 3.8% in 2023, compared to an 8% rise by the S&P 500 , a 2.7% gain by the Dow Jones Industrial Average and a 4.8% year-to-date drop by the Financial Select Sector SPDR Fund (XLF).