Have you been eager to see how JPMorgan Chase & Co. JPM performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based major global bank’s earnings release this morning:An Earnings BeatJPMorgan came out with earnings of $1.35 per share, outpaced the Zacks Consensus Estimate of $1.26.Lower operating expenses were mainly responsible for earnings beat.How Was the Estimate Revision Trend?You should note that the earnings estimate revisions for JPMorgan depicted pessimism prior to the earnings release. The Zacks Consensus Estimate declined over the last 7 days.However, JPMorgan have a decent earnings surprise history. Before posting the earnings beat in Q1, the company delivered three positive surprises in the prior four quarters. Overall, the company has a positive earnings surprise of 3.51% in the trailing four quarters.Revenue Higher Than ExpectedJPMorgan recorded revenues of $24.1 billion, which was ahead the Zacks Consensus Estimate of $23.9 billion. Also, it compared unfavorably with the year-ago number of $24.8 billion.Key Developments of First-quarter to Note:Included in the results was $479 million of after-tax impact from wholesale credit costsNearly $3.0 billion returned to shareholders through dividends and share buybacksAverage Core loans up 17% year over yearBasel III common equity Tier 1 ratio of 11.7% What Zacks Rank SaysThe estimate revisions that we discussed earlier have driven a Zacks Rank #5 (Strong Sell) for JPMorgan. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.How the Market Reacted So FarFollowing the earnings release, JPMorgan shares were up more than 2% in the pre-trading session. This is in line to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.Check back later for our full write up on this JPMorgan earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMORGAN CHASE (JPM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research