Trading And Investment Banking Lift JPMorgan’s Earnings Past Forecasts

Jul 15, 2025 - 14:00
Trading And Investment Banking Lift JPMorgan’s Earnings Past Forecasts

JPMorgan Chase (JPM), the world’s largest commercial bank, has reported second-quarter financial results that beat Wall Street forecasts across the board.

The New York-based lender announced earnings per share (EPS) of $5.24 U.S., which topped the $4.48 U.S. consensus expectation of analysts.

Revenue in the period totaled $45.68 billion U.S., which was ahead of the $44.06 billion U.S. that was expected on Wall Street.

JPMorgan Chase said it benefited from robust trading revenue in the April through June quarter due to the market volatility caused by U.S. President Donald Trump’s trade policies and tariffs.

While the U.S. market collapsed in April after President Trump unveiled his tariff agenda, the market quickly rallied 25% off its lows, leading to intense trading volumes across Wall Street.

At the same time, JPMorgan, and other banks, have benefitted from a rebound in investment banking, with a growing number of companies holding initial public offerings (IPOs).

The IPO market had been in the doldrums since 2022 but is now reviving thanks to big stock issuance from companies such as CoreWeave (CRWV) and Circle Internet Group (CRCL).

High asset levels and wealth management services also provided a boost to JPMorgan Chase during the year’s second quarter.

The retail side of JPMorgan’s operations also held up well during the period as the bank avoided credit losses and consumers remain buoyed by a strong U.S. labour market.

Despite the strong results, JPMorgan Chase Chief Executive Officer (CEO) Jamie Dimon sounded a cautious note in the bank’s earnings release.

“Significant risks persist – including from tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices,” said Dimon, who is known as a voice of caution and reason on Wall Street.

JPMorgan Chase is the first of the major U.S. banks to report Q2 financial results.

In the coming days, there will also be quarterly prints from Citigroup (C), Goldman Sachs (GS), and Bank of America (BAC), among others.

JPM stock has risen 20% this year to trade at $288.70 U.S. per share.