JPMorgan profit climbs 24 percent, beating forecasts, on trading surge

JPMorgan Chase & Co reported a 24 percent rise in fourth-quarter profits on Friday, beating analyst expectations, as its Wall Street business benefited from a surge in trading activity following the U.S. election. JPMorgan, the largest U.S. lender, said earnings rose to $6.7 billion, or $1.71 per share, from $5.4 billion, or $1.32 per share, in the year-ago period. Excluding an atypical tax benefit, the bank earned $1.58 per share, well above the average analyst estimate of $1.44 per share,