Investors are also closely watching succession planning at JPMorgan. Dimon plans to remain CEO for at least three more years, Reuters reported last month, citing a source.
The bank's leadership reshuffle in June elevated Petno and Troy Rohrbaugh to co-presidents and marked the retirement of Marianne Lake, long viewed by Wall Street as a leading contender to succeed Dimon.
Revenue at the consumer and community banking business - now under the stewardship of Rohrbaugh - climbed 8% in the second quarter.
Dimon said on Tuesday that the timetable for his departure as CEO of the largest U.S. bank remains unchanged. He declined to give a clear answer on the timeline saying it is up to the board. Reuters reported last month that Dimon planned to remain CEO for at least three more years.
JPMorgan's investment banking fees jumped 30% in the second quarter from a year earlier, higher than the bank's earlier estimate.
The bank was part of several landmark transactions during the quarter, including as co-adviser on NextEra Energy's $67 billion merger with Dominion Energy and lead active bookrunner on Alphabet's $85 billion equity offering.
The value of global mergers and acquisitions announced so far this year has surpassed $3 trillion, according to Dealogic data, adding momentum to one of banks' biggest fee-generating businesses: advising on deals.
JPMorgan's equity trading revenue surged 86%, while fixed-income trading revenue increased 6%.
"The eye-popping 86% explosion in stock trading and a total resurgence in investment banking prove that when the macro environment gets volatile, Wall Street's biggest whale simply eats everyone else's lunch," said David Wagner, Head of Equity and Portfolio Manager at Aptus Capital Advisors, which holds JPMorgan stock.
Rival Goldman Sachs GS.N and Bank of America BAC.N also posted higher profits on Tuesday, thanks to strength in trading and dealmaking. Wells Fargo's WFC.N profit was boosted by higher interest income.
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