Q1 25 EPS
$5.07
BEAT +9.15%
Est. $4.65
Q1 25 Revenue
$45.31B
BEAT +2.65%
Est. $44.14B
vs S&P Since Q1 25
+0.7%
BEATING MARKET
JPM +35.7% vs S&P +35.0%
Market Reaction
Did JPM Beat Earnings? Q1 2025 Results
JPMorgan Chase delivered a strong start to 2025, posting first-quarter earnings per share of $5.07, beating the $4.64 consensus estimate by 9.15%, as net income climbed 9% year-over-year to $14.64 billion. Revenue of $45.31 billion edged past the $44… Read more JPMorgan Chase delivered a strong start to 2025, posting first-quarter earnings per share of $5.07, beating the $4.64 consensus estimate by 9.15%, as net income climbed 9% year-over-year to $14.64 billion. Revenue of $45.31 billion edged past the $44.14 billion consensus by 2.65%, though it reflected a 31.6% decline from the year-ago period when elevated one-time items inflated the comparison. The headline driver was a standout performance in the Commercial and Investment Bank, where record Equity Markets revenue of $3.81 billion, up 48%, helped push total Markets revenue 21% higher to $9.70 billion amid a volatile trading environment. Asset and Wealth Management also contributed, with AUM reaching $4.11 trillion on $90.00 billion in net inflows. Despite the strong print, CEO Jamie Dimon cautioned investors about "considerable turbulence" ahead, pointing to tariff risks, sticky inflation, and high fiscal deficits, with the firm building reserves and maintaining excess capital to navigate a wide range of potential economic scenarios.
Key Takeaways
- • Record Equity Markets revenue driven by derivatives amid elevated volatility
- • Investment Banking fees up 12% YoY with #1 global ranking and 9.0% wallet share
- • Higher revolving balances in Card Services driving NII growth
- • Strong AUM net inflows of $90 billion in AWM
- • 500,000 net new checking accounts in CCB
- • Record first-time investors added in wealth management
- • FDIC special assessment accrual release of $323 million reducing expenses
- • $588 million First Republic-related gain from FDIC settlement
- • Total client assets in AWM reached $6.0 trillion, up 15% YoY
- • Markets total net revenue of $9.663 billion, up 21% YoY
JPM YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
JPM Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Firm reported strong underlying business and financial results in the first quarter, producing net income of $14.6 billion.”
— Jamie Dimon, Q1 2025 Earnings Press Release
JPM Earnings Trends
JPM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
JPM EPS Trend
Earnings per share: estimate vs actual
JPM Revenue Trend
Quarterly revenue: estimate vs actual
JPM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $5.94 | — | $49.84B | — |
| Q4 25 MISS FY | $4.82 | $4.63 | -3.94% | $45.80B | — |
| FY Full Year | $20.01 | $20.02 | +0.07% | $182.45B | -0.26% |
| Q3 25 BEAT | $4.87 | $5.07 | +4.01% | $46.43B | +1.87% |
| Q2 25 BEAT | $4.47 | $5.24 | +17.27% | $44.91B | +2.11% |
| Q1 25 BEAT | $4.65 | $5.07 | +9.15% | $45.31B | +2.65% |