JPMorgan Chase CEO Jamie Dimon attends the American Business Forum on Thursday, November 6, 2025 in Miami, Florida, USA.
Eva Marie Uzcategui | Bloomberg | Getty Images
JPMorgan Chase & Co. reported first-quarter results Tuesday with better-than-expected fixed income and investment banking revenue.
Here’s what the company reported:
Earnings: $5.94 per share (LSEG estimate of $5.45) Revenue: $50.54 billion ($49.17 billion estimate)
The company said net income rose 13% to $16.49 billion, or $5.94 per share. Sales increased 10% to $50.54 billion.
The bank’s fixed income trading revenue rose 21% to $7.08 billion, about $370 million more than Street accounts expected, due to increased activity in commodities, credit, currencies and emerging markets.
Investment banking fees rose 28% to $2.88 billion, about $260 million more than expected, due to higher merger advisory fees and equity underwriting fees.
Banks have enjoyed tailwinds in recent quarters from a recovery in investment banking and trading activity to stabilization in consumer credit.
But this year, markets have been roiled by disruptions from the latest artificial intelligence models, risks posed by private credit and worries about the Iran war that began in late February.
JPMorgan Chief Executive Jamie Dimon said the U.S. economy had been resilient during this period thanks to consumer and business spending and debt repayments, but added uncertainty had increased.
“The set of risks is becoming increasingly complex, including geopolitical tensions and wars, energy price volatility, trade uncertainty, large global budget deficits, and soaring asset prices,” Dimon said.
“While we cannot predict how these risks and uncertainties will ultimately develop, they are important and support why we are preparing for a wide range of environments,” he said.
Notably, the bank lowered its forecast for full-year net interest income, the main driver of bank profits, to about $103 billion from $104.5 billion previously.
The bank’s shares fell about 1% in premarket trading.
Goldman Sachs, JPMorgan’s rival for trading and investment banking, on Monday reported better-than-expected first-quarter results with record equity trading revenue.
Citigroup and Wells Fargo will report their results on Tuesday, while Bank of America and Morgan Stanley will report on Wednesday.
This story is developing. Please check back for the latest information.
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted names in business news.
Source link
