JPMorgan Chase & Co posted higher second-quarter earnings on Thursday after setting aside less money for loan losses.

The second-largest U.S. bank by assets said earnings jumped to $4.8 billion, or $1.09 a share, from $2.7 billion, or 28 cents a share, in the year-earlier period.

Analysts on average expected earnings of 67 cents a share, according to Thomson Reuters I/B/E/S. It could not immediately be determined if that figure directly compared to the $1.09 the bank posted.

JPMorgan reported a benefit of $1.5 billion after trimming its loan loss reserves in the quarter.

U.S. stock index futures rose following the earnings report by the bank, a component of the Dow Jones industrial average.

JPMorgan shares closed down 13 cents at $40.35 on Wednesday. The shares are down 3 percent this year.

(Reporting by Elinor Comlay; editing by John Wallace)

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