Jamie Dimon, CEO of JPMorgan Chase, leaves the U.S. Capitol after a gathering with Republican members of the Senate Banking, Housing and City Affairs Committee on the problem of debanking on Thursday, February 13, 2025.
Tom Williams | Cq-roll Name, Inc. | Getty Photographs
JPMorgan Chase on Friday reported outcomes that topped estimates on higher-than-expected income, helped by booming fairness buying and selling exercise.
Here is what the corporate reported:
Earnings: $5.07 a shareRevenue: $46.01 billion vs. anticipated $44.11 billion, in keeping with LSEG
The financial institution mentioned that first-quarter revenue rose 9% to $14.64 billion, or $5.07 a share. Excluding a one-time acquire of 16 cents per share tied to its First Republic acquisition, JPMorgan earned $4.91 per share, in contrast with the LSEG estimate of $4.61.
Income rose 8% to $46.01 billion, helped by larger asset administration and funding banking charges and robust buying and selling outcomes. As with rival Morgan Stanley, equities buying and selling was the quarter’s standout, with income surging 48% to $3.8 billion, topping the StreetAccount forecast by about $560 million.
Shares of the agency rose 4%.
Whereas JPMorgan CEO Jamie Dimon touted his firm’s stable ends in the quarter, he additionally struck a observe of warning on the broader financial system. Markets have whipsawed violently since President Donald Trump escalated international commerce tensions final week.
“The financial system is going through appreciable turbulence (together with geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘commerce wars,’ ongoing sticky inflation, excessive fiscal deficits and nonetheless fairly excessive asset costs and volatility,” Dimon mentioned.
“As at all times, we hope for one of the best however put together the Agency for a variety of eventualities,” he added.
The shortage of certainty within the enterprise surroundings for a lot of corporations was anticipated to solid a pall over some funding banking actions, together with IPO listings and merger recommendation.
However it was additionally anticipated to offer a superb surroundings for Wall Avenue buying and selling desks to print cash.
Wells Fargo and Morgan Stanley are additionally out with quarterly stories report Friday. Morgan Stanley equally reported surging buying and selling exercise.
Goldman Sachs, Financial institution of America and Citigroup report subsequent week.
