JPMorgan CEO Jamie Dimon. Getty/Win McNamee JPMorgan just reported fourth-quarter earnings that beat expectations.

The firm on Friday reported earnings per share of $1.71 on revenue of $24.33 billion.

Analysts were expecting adjusted earnings per share of $1.43 on revenue of $24.17 billion, according to Bloomberg.

"2016 demonstrated the strength and depth of our platform with record net income and EPS in an increasingly complex global environment," CEO Jamie Dimon said in a statement.

The corporate and investment bank had its best revenue on record for a fourth quarter, according to chief financial officer Marianne Lake.

The markets business — including both fixed income and equities trading — also had its highest revenues on record for the fourth quarter.

Here's the breakdown:

Total trading revenue for the quarter came in at $4.52 billion ($4.34 billion expected), up 24% from the year-ago quarter.

Within trading, fixed-income revenue was $3.37 billion ($3.09 billion expected), up 31% year-over-year. That was driven by stronger performance across products, according to the firm.

Equities were $1.15 billion ($1.29 billion expected), up 8% from the year-ago quarter thanks to stronger performance in derivatives.

Investment-banking revenue came in at $1.49 billion ($1.59 billion expected), up 1% from the prior-year quarter thanks to higher debt-underwriting fees, the firm said. That was offset by lower advisory and equity-underwriting fees.

Dimon also commented on the US political and economic environment:

"The U.S. economy may be building momentum. Looking ahead there is opportunity for good, rational and thoughtful policy decisions to be implemented, which would spur growth, create jobs for Americans across the income spectrum and help communities, and we are wellpositioned to play our part. Business plays a critical positive role in society, and in collaboration with nonprofits, governments and educational institutions, it can help strengthen our economy and our country."

In the same quarter last year, JPMorgan beat expectations, reporting earnings per share of $1.32 on revenue of $23.74 billion.

In the third quarter, the firm had a record-breaking quarter, reporting earnings per share of $1.58 on adjusted revenue of $24.67 billion. The corporate and investment bank had its best reported performance for a third quarter on record, as well as the highest fees on record for a third quarter, according to CFO Marianne Lake.

Bank of America reported Q4 earnings earlier Friday. Wells Fargo also reports at about 8 a.m. ET on Friday, followed by Morgan Stanley on Tuesday.