JPMorgan Chase (JPM.N), opens new tab beat estimates for second-quarter profit on Friday as a resurgence in dealmaking and strong capital markets fueled record results.

More companies are seeking to raise funds through debt or equity offerings and striking takeover deals as they gain confidence in the U.S. economic outlook, helping to boost Wall Street banks’ income.

Investment banking revenue grew 46% to $2.5 billion, compared with a low base a year earlier. The gains exceeded the company’s earlier predictions.