JPMorgan Chase & Company
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +3.67%.
Did JPM Beat Earnings? Q2 2025 Results
JPMorgan Chase delivered a <a href="https://247wallst.com/investing/2025/07/15/jpmorgan-chase-nyse-jpm-live-earnings-coverage-stock-flat-after-upbeat-earnings/">strong second-quarter beat</a>, posting earnings of $5.24 per diluted share against a consensus estimate of $4.47, a 17.27% positive surprise, as revenue of $44.91 billion edged past the $43.98 billion forecast by 2.11%. The headline revenue decline of 33.8% year-over-year is largely a function of the prior-year period's $7.90 billion Visa-related gain, which flatters the comparison; strip that out, and the underlying franchise showed broad-based momentum. Markets revenue was the standout driver, surging 15% to $8.94 billion, with both Fixed Income and Equities up double digits, while Consumer & Community Banking net income climbed 23% to $5.17 billion. Net interest income on a managed basis rose 2% to $23.31 billion. Looking ahead, the Board intends to raise the common dividend for a second time in 2025, for a cumulative 20% increase since Q4 2024, and authorized a new $50 billion buyback program, even as CEO Jamie Dimon flagged tariff uncertainty and elevated asset prices as lingering risks.
- Markets revenue up 15% to $8.9 billion driven by strong client activity amid volatile conditions
- Card Services & Auto revenue up 15% on higher revolving balances and auto operating lease income
- Asset management fees up 10% on strong net inflows and higher market levels
- Net interest income up 2% driven by higher wholesale deposit balances and higher revolving Card balances
- ~500,000 net new checking accounts driving sequential growth in checking account balances
- Investment banking fees up 7% driven by higher debt underwriting and advisory fees
- Client asset net inflows of $80 billion in AWM
“We reported another quarter of strong results, generating net income of $15.0 billion or net income of $14.2 billion excluding a significant item.”
JPMorgan Chase CEO, on the earnings call
Forward Guidance & Outlook
CEO Jamie Dimon noted the U.S. economy remained resilient during the quarter. He highlighted that finalization of tax reform and potential deregulation are positive for the economic outlook. However, he cautioned that significant risks persist, including tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits, and elevated asset prices. The Firm is preparing for a wide range of scenarios. The Board intends to increase the common dividend for the second time in 2025, resulting in a cumulative 20% increase compared with Q4 2024. A new $50 billion common share repurchase program was authorized effective July 1, 2025.
JPM YoY Financials
JPM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.