JPMorgan Turns in Record Profit, Higher Revenue AP Photo/Mark Lennihan, File In this May 11, 2012 file photo, people stand in the lobby of JPMorgan Chase headquarters in New York. JPMorgan Chase accepted the resignation of Ina Drew, its chief investment officer and one of the highest-ranking women on Wall Street after the bank lost $2 billion in a trading blunder. (NEW YORK) - JPMorgan Chase, the country's biggest bank by assets, reported a record quarterly profit Friday. The bank said it made $5.7 billion in the July-to-September period, shooting up 34 percent from the same period a year ago. Earnings were $1.40 per share, far exceeding the $1.21 predicted by analysts polled by FactSet. Revenue rose 6 percent to $25.1 billion, beating expectations of $24.4 billion. Earnings were helped because the bank set aside less money for bad loans. It set aside $1.8 billion for potential loan losses, down 26 percent from $2.4 billion a year ago. JPMorgan stock was up 39 cents at $42.49 in premarket trading. The stock was as low as $31 in early June, after the bank announced a surprise trading loss that ballooned to $6 billion. MORE: JPMorgan Chase Agrees to Pay $110 Million in Overdraft Class-Action Lawsuit