JPMorgan Chase posted the highest quarterly profit in its history Tuesday after its stock-trading business generated a record $6.03 billion in revenue, fueled by strong market activity and volatility, Bloomberg reports.

The equities trading haul surged 86% from a year ago, easily topping Wall Street expectations.

RECORDS SHATTERED

Total trading revenue climbed to $12.1 billion, another company record.

The nation's largest bank reported net income of $21.2 billion, or $7.70 per share, as most of its major business lines outperformed analysts' forecasts. Results also were boosted by a $4.6 billion gain tied to a long-held investment in Visa.

Investment banking also strengthened during the quarter. JPMorgan generated $3.28 billion in investment banking fees, up 30% from a year earlier, helped by stronger equity and debt underwriting activity following June's blockbuster SpaceX initial public offering.

The bank also raised its full-year outlook for net interest income to about $105.5 billion, up from its previous forecast of $103 billion.

Despite the record results, Chairman and CEO Jamie Dimon cautioned that significant risks remain.

‘TECTONIC PLATES’

“Several risks are shifting below the surface like tectonic plates, including geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices,” Dimon said.

“We cannot predict how these forces will ultimately play out.”

JPMorgan also increased its full-year expense forecast to about $107.5 billion, citing higher business activity and the costs associated with stronger revenue growth.

Shares of JPMorgan fell in early trading despite the stronger-than-expected earnings report.