JPMorgan Chase & Co., the second- biggest U.S. bank, reported today that its first-quarter income rose 17%.

Income rose to $2.26 billion from $1.93 billion last year. EPS declined to 63 cents from 92 cents because the bank issued stock to buy Bank One. Excluding this merger, EPS rose to 81 cents a share. Analysts were expecting 69 cent per share.

 

Investment-banking revenue rose 11% to $4.2 billion.

 

Revenue rose 51% to $13.6 billion. Analysts were forecasting $13.85 billion.

 

Investment-banking fees surged 43% to $985 million.