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JP Morgan quarterly profit jumped 17%

JP Morgan Chase & Co reported a 17 percent spike in first-quarter profit on Thursday, as higher interest rates boosted market activity.

The bank earned $6.4 billion in the first three months of the year, or $1.65 per share, up from $5.5 billion, or $1.35 per share year-over-year. The firm's revenue rose to $24.7, up 6 percent from a year-ago quarter. 

JPM stock climbed up about 1.5% in Thursday’s pre-market session to $86.35.

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