JPMorgan Jumps On Lower Taxes

(Reuters) - JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, reported a 35 percent surge in quarterly profit on Friday, helped by higher interest rates for loans and lower taxes. The bank's net income rose to $8.71 billion, or $2.37 per share, in the first quarter ended March 31 from $6.45 billion, or $1.65 per share, a year earlier. (bit.ly/2HyYbp9) Analysts had estimated earnings of $2.28 per share, according to Thomson Reuters I/B/E/S.