JP Morgan Chase & (JPM) Q3 2025 Earnings
How Did JPM Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +1.48%.
Did JPM Beat Earnings? Q3 2025 Results
Yes. JP Morgan Chase & reported Q3 2025 earnings of $5.07 a share on Oct 14, 2025, beating the $4.87 consensus estimate by 4.0%. Revenue was $46.4B against a $45.6B estimate.
JPMorgan Chase capped a standout third quarter, posting earnings per share of $5.07 against a consensus estimate of $4.87, a 4.01% beat, while revenue of $46.43 billion edged past the $45.57 billion expected by analysts, a 1.87% margin of outperformance. The headline revenue figure reflected a 33.4% year-over-year decline, though that comparison was shaped by prior-period items rather than any deterioration in underlying business momentum. The clearest engine of strength was the Commercial & Investment Bank, where a record third-quarter Markets revenue of $8.94 billion, up 25%, anchored results; equity markets alone surged 33% on robust Prime performance, while investment banking fees climbed 16% to $2.63 billion as M&A and equity underwriting activity picked up. Net income reached $14.39 billion, up 12% year-over-year, with return on tangible common equity at a healthy 20%. CEO Jamie Dimon acknowledged the resilience while flagging geopolitical uncertainty, tariff risks, and sticky inflation as forces that keep the firm preparing for a wide range of economic scenarios ahead.
- Record third-quarter Markets revenue of nearly $9 billion, up 25% YoY
- Investment banking fees rose 16% driven by ECM and M&A activity
- Ranked #1 in U.S. retail deposits for the fifth consecutive year
- Added more than 400,000 net new checking accounts in the quarter
- Higher revolving balances in Card Services driving NII growth
- Strong AUM net inflows of $109 billion in Asset & Wealth Management
- Assets under management reached $4.6 trillion, up 18% YoY
- Equity Markets revenue up 33% driven by Prime
- First-time investors surpassed 43,000 setting a new record in wealth management
- Higher asset management fees driven by net inflows and market levels
“The Firm reported strong results in the third quarter, generating net income of $14.4 billion and delivering an ROTCE of 20%.”
JP Morgan Chase & CEO, on the earnings call
What Was JP Morgan Chase &'s Outlook in Q3 2025?
CEO Jamie Dimon indicated that while the U.S. economy generally remained resilient, there are signs of softening, particularly in job growth. He highlighted a heightened degree of uncertainty stemming from complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices, and the risk of sticky inflation, noting the firm prepares for a wide range of scenarios.
JPM YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $46.4B | $69.7B | −33.4% |
| Net Income | $14.4B | $12.9B | +11.6% |
| Operating Income | $18.7B | $17.0B | +10.4% |
JPM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.