J.P. Morgan (NYSE:JPM) reported that it earned $5.38 billion, or $1.31 per share down from $5.56 billion in the same period last year. Analysts had expected earnings of $1.18 per share. Revenue increased by 6.3 percent to $27.42 billion, beating analyst estimates of $24.68 billion.
Shares are higher in early trading.
Wells Fargo (NYSE:WFC) announced that it earned $4.25 billion in the first quarter, up from $3.76 billion in the same period last year. Revenue increased by 6.4% to $21.64 billion, beating analyst estimates of $20.51 billion.
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