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JPMorgan’s earnings beat gives hope for big banks

JPMorgan Chase's Thursday morning earnings might mean good news for other banks, according to one analyst.

JPMorgan reported higher-than-expected earnings of $1.55 per share, beating estimates of $1.43 per share.

"Their trading results exceeded expectations, particularly driven by post-Brexit activity. That's potentially a positive upside for some of the bigger banks," Jason Goldberg, senior analyst at Barclays, told CNBC's "Power Lunch".

Although JPMorgan was able to surpass expectations, some experts say there wasn't much to beat.

"It was a solid quarter, but remember, all of these earning they're beating on lower expectations," said Fred Cannon, director of research and chief equity strategist at Keefe, Bruyette & Woods. "Post- what-happened-with-Brexit in the bond market with these low yields, expectations came down and JP Morgan did nicely beat it on the revenue side."

Disclosure: Barclays has been lead manager or co-lead manager of a publicly disclosed offer of securities of JPMorgan in the previous 12 months. The firm and/or an affiliate is also a market-maker in securities issued by this issuer. Barclays and/or an affiliate has received compensation for investment banking services from this issuer in the past 12 months.

KBW or an affiliate expects to receive or intends to seek compensation for investment banking services from JPMorgan in the next three months. KBW or an affiliate has received compensation for investment banking services from JPMorgan in the past 12 months. KBW or an affiliate currently makes a market and/or acts as a liquidity provider in JPMorgan securities. JPMorgan currently is, or was during the 12-month period preceding the date of distribution of this report, a client of KBW.