JPMorgan Chase posts increase in second quarter income, adjusted revenue beat

Investing.com -- JPMorgan Chase&Co. (NYSE: JPM) has posted a jump in net income and higher-than-expected adjusted revenue for the second quarter, as the biggest U.S. bank was boosted by elevated interest rates that helped offset lower deposit balances and an uptick in loan loss provisions.

Net income for the three-month period rose to $14.47 billion, an increase of 15% compared to the prior quarter and 67% above the corresponding timeframe last year. Adjusted revenue also grew by 8% to $42.40B, topping Bloomberg estimates of $39.34B.

Shares in JPMorgan advanced by about 2.5% in premarket U.S. trading on Friday following the results.

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