Jamie Dimon, JPMorgan’s chairman and chief executive, said the earnings reflected growth across several business lines, but he gave only a cautious outlook. “While we are seeing some initial signs of consumer credit stability, we are not yet certain that this trend will continue,” he said in a statement.

Image James Dimon, chief executive of JPMorgan Chase, said that the bank was performing well but still gave a cautious outlook. Credit... Jin Lee/Bloomberg

Consumer loss rates remain high, but there were upbeat signs in the bank’s numbers. Bank officials said they saw “a little bit of stabilization” in home values, especially for lower price properties and in states like California. And while delinquencies remain high, fewer borrowers were falling behind on mortgages.

Michael J. Cavanagh, the bank’s chief financial officer, called that a “hopeful sign” but stopped short of declaring that heavy losses were over. “We have to watch the economy and see where it heads,” he said in a conference call with reporters.

JPMorgan was the first of the nation’s biggest banks to report third-quarter earnings. Bank of America, Citigroup and Goldman Sachs also release results this week. As one of the first major banks to warn of troubles with subprime mortgages, home equity loans and credit cards, JPMorgan is seen as a bellwether for the financial industry.

Although the housing market and economy remain weak, analysts expect to see a slowdown in consumer loan losses at the biggest banks and for them to start setting aside less money in their reserves. Meanwhile, the troubles are quickly moving to commercial real estate loans, which will place a heavier burden on smaller lenders.

Mr. Dimon still must contend with several problems. His decision last month to replace the two co-heads of the investment banking division with a single leader, James E. Staley, raised concern within the ranks. JPMorgan’s credit card division is unlikely to turn a profit until 2011, and, like most of the industry, its consumer franchise has seen a fall-off in new mortgage lending.

Mr. Dimon also faces obstacles in Washington. He must balance paying bonuses to JPMorgan investment bankers based on blow-out earnings with public furor over Wall Street pay. New regulations on credit cards threaten to lower the profitability of that business, and lenders face other legislative efforts to curb bank fees and derivatives trading.