JPMorgan reported its earnings for the first quarter that beat expectations on both the top line and bottom line.

The company reported per share earnings of $1.35 with revenue reaching $24.07 billion, while analysts expected per share earnings of $1.24 and revenue of $23.81 billion.

Jamie Dimon the CEO at JPMorgan said the company had delivered strong numbers for the quarter with solid underlying drivers.

He added that while the challenging markets had impacted the industry, the company maintained its leadership position and its market share reflecting its platform strength.

The financial institute missed in its investment banking revenue but was able to beat on its trading revenue. Revenues in all of its major divisions were down compared to the same three-month period in 2015.

Investment banking had revenue of $1.23 billion but analysts were expecting $1.36 billion. Results were down by 24% compared to last year in the same quarter. The results were due to lower equity and debt underwriting fees, said the company.

Trading revenue was $5.17 billion, while analysts were expecting $4.58 billion, but it was still over 11% lower than last year.

Revenue from fixed income trading ended the quarter at $3.59 billion while analysts expected $3.23 billion. Nevertheless, it was down more than 13% from the same period one year ago.

Equity trading ended the quarter just over $1.58 billion while analysts were expecting $1.35 billion. The results were 5% lower than the same quarter in 2015.

Last year, during the same three-month period, JPMorgan also beat expectations for earnings per share of $1.38 with $1.61. Revenue was expected for that same period of $24.5 billion with results of $24.8 billion.

The company also beat on both top and bottom lines last quarter.

For investment banks, the first three months of the year are the strongest, but Wall Street is expecting a very weak first quarter earnings season this year.

The choppy condition in trading during the beginning of 2016, fears about growth in China and oil prices that have collapsed are believed to have created what analysts called the perfect storm for U.S. banks.

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