JPMorgan Chase on Friday posted third-quarter results that topped analysts' estimates for profit and revenue as the firm reaped more than expected in interest income.
Revenue: $33.49 billion, vs. $32.1 billion estimate.
The bank said net interest income surged 34% in the quarter to $17.6 billion, thanks to higher interest rates and an expanding book of loans.
JPMorgan, the biggest U.S. bank by assets, will be watched closely for clues on how banks are navigating a confusing environment.
Rising interest rates mean that banks' core lending activity is becoming more profitable.