JPMorgan's profits rise 18 percent, helped by lower taxes

JPMorgan Chase's second-quarter profits rose by 18 percent from a year ago, as the nation's largest bank continues to benefit from higher interest rates and a lower tax bill following last year's passage of President Donald Trump's tax law. JPMorgan said Friday that it earned $8.32 billion in the first quarter, or $2.29 a share, up from $7.03 billion, or $1.82 a share, in the same period a year earlier. Like in the first quarter, JPMorgan benefited greatly from a much lower tax bill compared to a year earlier.