JPMorgan Chase had a champagne-worthy Q1

 JPMorgan Chase had a champagne-worthy Q1. Revenue for the biggest bank in the US grew 10% to hit nearly $50 billion for the first three months of the year, smashing Wall Street’s expectations as market volatility and elevated dealmaking generated record hauls for big banks. JPMorgan’s trading fees hit a record high, investment banking fees rose more than those of any other global bank, and M&A advising fees surged by a whopping 82%. Still, the firm slightly revised down its full-year guidance for net-interest income, a central earnings driver. CEO Jamie Dimon said that the US economy is resilient, but “an increasingly complex set of risks” lies ahead, including “geopolitical tensions and wars” and “energy price volatility.” Elsewhere on Wall Street, strong trading also propelled Citigroup to an earnings beat, but Wells Fargo fell short of expectations.