Companies /Financial Services

JPMorgan Chase & Company

NYSE: JPM Banks - Diversified
$358.51
▼ $3.55 (−0.98%) today
Markets closed · 6:05pm ET

Q3 2025 Earnings

Reported Oct 14, 2025, 6:30am ET · SEC source
$5.07
Beat +4.01%
EPS · est. $4.87
$46.4B
Beat +1.87%
Revenue · est. $45.6B
+1.0%
Beating market
JPM vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%Oct 14Oct 15report 6:30am ETearnings+1.5%+1.2%
−2%0+2%Oct 14Oct 15earnings+1.5%+1.2%
JPM +1.2%S&P 500 +1.5%
−2%0+2%Oct 14Oct 15report 6:30am ETearnings+1.6%+1.2%
−2%0+2%Oct 14Oct 15earnings+1.6%+1.2%
JPM +1.2%NASDAQ +1.6%
−4%−2%0+2%Oct 13Oct 22report 6:30am ETearnings+2.4%−2.7%
−4%−2%0+2%Oct 13Oct 22earnings+2.4%−2.7%
JPM −2.7%S&P 500 +2.4%
−4%−2%0+2%Oct 13Oct 22report 6:30am ETearnings+2.8%−2.7%
−4%−2%0+2%Oct 13Oct 22earnings+2.8%−2.7%
JPM −2.7%NASDAQ +2.8%
−1.91%
Day of report
+1.20%
Next session
−1.65%
One week
+2.45%
30 days

S&P 500 over the same 30 days: +1.48%.

Did JPM Beat Earnings? Q3 2025 Results

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.

Key Takeaways
  • 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%.”

JPMorgan Chase CEO, on the earnings call

Forward Guidance & Outlook

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

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$20.0B$40.0B$60.0B$69.7B$46.4BRevenue$12.9B$14.4BNet Income$17.0B$18.7BOperating Income
$0$20.0B$40.0B$60.0BRevenueNet IncomeOperating Income

JPM Revenue by Segment

Commercial & Investment Bank$19.9B+17.0%
Consumer & Community Banking$19.5B+9.0%
Banking & Wealth Management
Banking & Wealth Management (CCB)$11.0B+9.0%
Fixed Income Markets$5.6B+21.0%
Lending
Card Services & Auto$7.2B+12.0%
Asset & Wealth Management$6.1B+12.0%

Figures from SEC filings and company reports. Not investment advice.