JP Morgan's net profit rose 41 percent to $21.2 billion on adjusted revenue of $58.0 billion. Per share, the profit was $7.70, compared with expectations of $5.85.
However, the stock is falling in futures trading after the report because of the bank's cost forecast.
Bank of America also beat expectations, with earnings per share of $1.21 on revenue of $31.7 billion. Investment bank Goldman Sachs - with a strong boost in trading revenue - and bank Wells Fargo also performed better than expected.
A report from Citigroup is also expected before the stock market opens on Wall Street.
