Strong Revenue Growth Amid …

• Net Income: $14.6 billion.

• Earnings Per Share (EPS): $5.07.

• Revenue: $46 billion, up 8% year on year.

• Return on Tangible Common Equity (ROTC): 21%.

• Expenses: $23.6 billion, up 4% year on year.

• Credit Costs: $3.3 billion, with net charge-offs of $2.3 billion.

• Total Allowance for Credit Losses: $27.6 billion.

• Common Equity Tier 1 (CET1) Ratio: 15.4%.

• Capital Distributed to Shareholders: $11 billion.

• Consumer & Community Banking (CCB) Revenue: $18.3 billion, up 4% year on year.

• Commercial & Investment Bank (CIB) Revenue: $19.7 billion, up 12% year on year.

• Asset & Wealth Management (AWM) Revenue: $5.7 billion, up 12% year on year.

• Assets Under Management (AUM): $4.1 trillion, up 15% year on year.

• Client Assets: $6 trillion, up 15% year on year.

• Corporate Revenue: $2.3 billion, up $102 million year on year.

Release Date: April 11, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• JPMorgan Chase & Co (NYSE:JPM) reported a strong net income of $14.6 billion, with an EPS of $5.07, reflecting robust financial performance.

• Revenue increased by 8% year-on-year to $46 billion, driven by higher asset management fees and investment banking fees.

• The firm maintained a high CET1 ratio of 15.4%, demonstrating strong capital adequacy.

• Consumer and small business segments remain financially healthy, with spending and credit utilization in line with expectations.

• The asset and wealth management division reported a 12% increase in revenue, driven by strong net inflows and higher market levels.

• Net interest income excluding markets was down by $430 million or 2%, impacted by lower rates and deposit margin compression.

• Credit costs increased to $3.3 billion, with net charge-offs of $2.3 billion, indicating rising credit risk.

• Expenses rose by 4% to $23.6 billion, largely due to higher compensation and legal expenses.

• The investment banking outlook remains cautious due to elevated market uncertainty and client hesitancy.

• Home lending originations dropped 42% year-on-year, reflecting challenges in the housing market.

Q: Can you amplify the macro commentary and discuss how uncertainty is affecting customer activity and growth expectations? A: Jeremy Barnum, CFO, noted that recent news has led to some distortions in consumer spending data, with front-loading of spending due to expected price increases from tariffs. On the corporate side, clients are adopting a wait-and-see attitude, focusing on short-term adjustments rather than strategic priorities, which affects the investment banking pipeline.