JP Morgan Chase & (JPM) Q1 2025 Earnings
How Did JPM Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +10.05%.
Did JPM Beat Earnings? Q1 2025 Results
Yes. JP Morgan Chase & reported Q1 2025 earnings of $5.07 a share on Apr 11, 2025, beating the $4.65 consensus estimate by 9.1%. Revenue was $45.3B against a $44.1B estimate.
JPMorgan Chase delivered a strong start to 2025, posting first-quarter earnings per share of $5.07, beating the $4.64 consensus estimate by 9.15%, as net income climbed 9% year-over-year to $14.64 billion. Revenue of $45.31 billion edged past the $44.14 billion consensus by 2.65%, though it reflected a 31.6% decline from the year-ago period when elevated one-time items inflated the comparison. The headline driver was a standout performance in the Commercial and Investment Bank, where record Equity Markets revenue of $3.81 billion, up 48%, helped push total Markets revenue 21% higher to $9.70 billion amid a volatile trading environment. Asset and Wealth Management also contributed, with AUM reaching $4.11 trillion on $90.00 billion in net inflows. Despite the strong print, CEO Jamie Dimon cautioned investors about "considerable turbulence" ahead, pointing to tariff risks, sticky inflation, and high fiscal deficits, with the firm building reserves and maintaining excess capital to navigate a wide range of potential economic scenarios.
- Record Equity Markets revenue driven by derivatives amid elevated volatility
- Investment Banking fees up 12% YoY with #1 global ranking and 9.0% wallet share
- Higher revolving balances in Card Services driving NII growth
- Strong AUM net inflows of $90 billion in AWM
- 500,000 net new checking accounts in CCB
- Record first-time investors added in wealth management
- FDIC special assessment accrual release of $323 million reducing expenses
- $588 million First Republic-related gain from FDIC settlement
- Total client assets in AWM reached $6.0 trillion, up 15% YoY
- Markets total net revenue of $9.663 billion, up 21% YoY
“The Firm reported strong underlying business and financial results in the first quarter, producing net income of $14.6 billion.”
JP Morgan Chase & CEO, on the earnings call
What Was JP Morgan Chase &'s Outlook in Q1 2025?
CEO Jamie Dimon warned of 'considerable turbulence' facing the economy, citing geopolitical risks, potential negatives from tariffs and trade wars, ongoing sticky inflation, high fiscal deficits, and elevated asset prices and volatility. He noted potential positives from tax reform and deregulation. The firm intends to maintain excess capital and ample liquidity, preparing for a 'wide range of scenarios.' Investment banking client activity has become more cautious amid market volatility. The net reserve build of $973 million was largely driven by changes in the weighted-average macroeconomic outlook, suggesting the firm is preparing for potential credit deterioration.
JPM YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $45.3B | $66.3B | −31.6% |
| Net Income | $14.6B | $13.4B | +9.1% |
| Operating Income | $18.4B | $17.3B | +6.5% |
JPM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.