Q3 25 EPS
$5.07
BEAT +4.01%
Est. $4.87
Q3 25 Revenue
$46.43B
BEAT +1.87%
Est. $45.57B
vs S&P Since Q3 25
-4.9%
TRAILING MARKET
JPM +4.0% vs S&P +8.8%
Market Reaction
Did JPM Beat Earnings? Q3 2025 Results
JPMorgan Chase capped a standout third quarter, posting earnings per share of $5.07 against a consensus estimate of $4.87, a 4.01% beat, while revenue of $46.43 billion edged past the $45.57 billion expected by analysts, a 1.87% margin of outperforma… Read more JPMorgan Chase capped a standout third quarter, posting earnings per share of $5.07 against a consensus estimate of $4.87, a 4.01% beat, while revenue of $46.43 billion edged past the $45.57 billion expected by analysts, a 1.87% margin of outperformance. The headline revenue figure reflected a 33.4% year-over-year decline, though that comparison was shaped by prior-period items rather than any deterioration in underlying business momentum. The clearest engine of strength was the Commercial & Investment Bank, where a record third-quarter Markets revenue of $8.94 billion, up 25%, anchored results; equity markets alone surged 33% on robust Prime performance, while investment banking fees climbed 16% to $2.63 billion as M&A and equity underwriting activity picked up. Net income reached $14.39 billion, up 12% year-over-year, with return on tangible common equity at a healthy 20%. CEO Jamie Dimon acknowledged the resilience while flagging geopolitical uncertainty, tariff risks, and sticky inflation as forces that keep the firm preparing for a wide range of economic scenarios ahead.
Key Takeaways
- • Record third-quarter Markets revenue of nearly $9 billion, up 25% YoY
- • Investment banking fees rose 16% driven by ECM and M&A activity
- • Ranked #1 in U.S. retail deposits for the fifth consecutive year
- • Added more than 400,000 net new checking accounts in the quarter
- • Higher revolving balances in Card Services driving NII growth
- • Strong AUM net inflows of $109 billion in Asset & Wealth Management
- • Assets under management reached $4.6 trillion, up 18% YoY
- • Equity Markets revenue up 33% driven by Prime
- • First-time investors surpassed 43,000 setting a new record in wealth management
- • Higher asset management fees driven by net inflows and market levels
JPM YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
JPM Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Firm reported strong results in the third quarter, generating net income of $14.4 billion and delivering an ROTCE of 20%.”
— Jamie Dimon, Q3 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% |