Markets digest bank earnings after recent turmoil

['Krystal Hur Nicole Goodkind Alicia Wallace', 'Krystal Hur', 'Nicole Goodkind', 'Alicia Wallace', "Cnn'S Bryan Mena", "Cnn'S Alicia Wallace", "Cnn'S Rob North", "Cnn'S David Goldman", "Cnn'S Julia Horowitz"] CNN.com - World 2023-04-14 10:29:55

JPMorgan Chase on Friday reported first-quarter profit and revenue that roundly beat expectations, boosted by a year of rate hikes from the Federal Reserve. The New York-based bank posted a profit of $12.6 billion or $4.10 per share. That’s up from $8.3 billion, or $2.63 per share from the same period a year before. With $3.67 trillion in assets, JPMorgan Chase is the largest bank in the United States and a bellwether for the US economy. Deposits rose to $2.38 trillion during the first quarter from $2.34 trillion in the quarter ended in December.