Q2 25 EPS
$5.24
BEAT +17.27%
Est. $4.47
Q2 25 Revenue
$44.91B
BEAT +2.11%
Est. $43.98B
vs S&P Since Q2 25
-6.0%
TRAILING MARKET
JPM +9.8% vs S&P +15.8%
Market Reaction
Did JPM Beat Earnings? Q2 2025 Results
JPMorgan Chase delivered a strong second-quarter beat, posting earnings of $5.24 per diluted share against a consensus estimate of $4.47, a 17.27% positive surprise, as revenue of $44.91 billion edged past the $43.98 billion forecast by 2.11%. The he… Read more JPMorgan Chase delivered a strong second-quarter beat, posting earnings of $5.24 per diluted share against a consensus estimate of $4.47, a 17.27% positive surprise, as revenue of $44.91 billion edged past the $43.98 billion forecast by 2.11%. The headline revenue decline of 33.8% year-over-year is largely a function of the prior-year period's $7.90 billion Visa-related gain, which flatters the comparison; strip that out, and the underlying franchise showed broad-based momentum. Markets revenue was the standout driver, surging 15% to $8.94 billion, with both Fixed Income and Equities up double digits, while Consumer & Community Banking net income climbed 23% to $5.17 billion. Net interest income on a managed basis rose 2% to $23.31 billion. Looking ahead, the Board intends to raise the common dividend for a second time in 2025, for a cumulative 20% increase since Q4 2024, and authorized a new $50 billion buyback program, even as CEO Jamie Dimon flagged tariff uncertainty and elevated asset prices as lingering risks.
Key Takeaways
- • Markets revenue up 15% to $8.9 billion driven by strong client activity amid volatile conditions
- • Card Services & Auto revenue up 15% on higher revolving balances and auto operating lease income
- • Asset management fees up 10% on strong net inflows and higher market levels
- • Net interest income up 2% driven by higher wholesale deposit balances and higher revolving Card balances
- • ~500,000 net new checking accounts driving sequential growth in checking account balances
- • Investment banking fees up 7% driven by higher debt underwriting and advisory fees
- • Client asset net inflows of $80 billion in AWM
JPM YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
JPM Revenue by Segment
With YoY comparisons, source: SEC Filings
“We reported another quarter of strong results, generating net income of $15.0 billion or net income of $14.2 billion excluding a significant item.”
— Jamie Dimon, Q2 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% |