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 difficulty of debanking on Thursday, February 13, 2025.
Tom Williams | Cq-roll Name, Inc. | Getty Pictures
JPMorgan Chase on Friday reported outcomes that topped estimates on higher-than-expected income, helped by booming fairness buying and selling exercise.
This is what the corporate reported:
Earnings: $5.07 a shareRevenue: $46.01 billion vs. anticipated $44.11 billion, based on LSEG
The financial institution mentioned that first-quarter revenue rose 9% to $14.64 billion, or $5.07 a share. Excluding a one-time achieve 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 increased asset administration and funding banking charges and powerful 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 strong ends in the quarter, he additionally struck a be aware of warning on the broader economic system. Markets have whipsawed violently since President Donald Trump escalated international commerce tensions final week.
“The economic 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 moderately excessive asset costs and volatility,” Dimon mentioned.
“As at all times, we hope for the most effective however put together the Agency for a variety of situations,” he added.
The dearth of certainty within the enterprise surroundings for a lot of firms was anticipated to solid a pall over some funding banking actions, together with IPO listings and merger recommendation.
But it surely was additionally anticipated to supply surroundings for Wall Road buying and selling desks to print cash.
Wells Fargo and Morgan Stanley are additionally out with quarterly studies report Friday. Morgan Stanley equally reported surging buying and selling exercise.
Goldman Sachs, Financial institution of America and Citigroup report subsequent week.
