JPMorgan profit surges 52% on robust consumer business

profit climbed in the first quarter as higher interest rates boosted its consumer business and the biggest U.S. lender remained resilient through the banking crisis in March.

Shares of JPMorgan rose 5% in premarket trading after the lender reported a 52% increase in profit to $12.62 billion, or $4.10 per share, in the three months ended Mar. 31. "The storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks."

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