JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.

JPMorgan Chase is out with its fourth-quarter results and it's a blowout report. Here are the highlights: Profit was up 50%. That amounted to $4.81 a share, well above what analysts polled by FactSet expected at $4.

JPMorgan Chase on Wednesday posted record quarterly and annual earnings and revenue, reinforcing the company’s status as the biggest and most profitable bank in U.S. history.