The firm released $5.2 billion of credit reserves, bolstering EPS.
The largest banks are set to kick off earnings season this week.
JPMorgan, widely seen as a barometer of the health of the broader U.S. economy, was also helped by favorable comparisons to last year when the COVID-19 pandemic forced the bank to build reserves against the risk of a wave of loan defaults. During the quarter, JPMorgan released reserves of $5.2 billion. While the largest U.S. banks struggled last year with the economic effects of the pandemic, investors are optimistic that a recovery this year on the back of President Joe Biden's $1.9 trillion stimulus package and widespread vaccinations could restore normalcy.