Q4 25 EPS
$4.63
MISS 3.94%
Est. $4.82
Q4 25 Revenue
$45.80B
vs S&P Since Q4 25
-4.4%
TRAILING MARKET
JPM -0.5% vs S&P +3.9%
Full Year 2025 Results
FY 25 EPS
$20.02
BEAT +0.07%
Est. $20.01
FY 25 Revenue
$182.45B
MISS 0.26%
Est. $182.92B
Market Reaction
Did JPM Beat Earnings? Q4 2025 Results
JPMorgan Chase delivered a mixed fourth quarter, with reported earnings of $4.63 per diluted share falling short of the $4.82 consensus estimate by 3.94%, while revenue of $45.80 billion declined 31.6% year-over-year, as a $2.20 billion credit reserv… Read more JPMorgan Chase delivered a mixed fourth quarter, with reported earnings of $4.63 per diluted share falling short of the $4.82 consensus estimate by 3.94%, while revenue of $45.80 billion declined 31.6% year-over-year, as a $2.20 billion credit reserve established for the forward purchase commitment of the Apple Card portfolio weighed heavily on results. Strip out that reserve charge, however, and the picture brightens considerably; adjusted EPS of $5.23 cleared the consensus, underpinned by a standout performance in Capital Markets, where equity revenues surged 40% and overall CIB segment revenue climbed 10% to $19.38 billion. Asset and Wealth Management added further luster, with record revenue of $6.52 billion and AUM reaching $4.80 trillion on $553.00 billion in annual net inflows. CEO Jamie Dimon acknowledged a resilient U.S. Economy but cautioned that markets may be underpricing geopolitical risks and sticky inflation, framing the Apple Card commitment as a deliberate, long-term capital deployment rather than a stumble.
Key Takeaways
- • Markets revenue surged 17% driven by demand for financing and robust client activity
- • Equity Markets revenue up 40% driven by higher revenue across products, particularly in Prime
- • Payments revenue reached record $5.1 billion due to ongoing deposit and fee growth
- • AWM revenue rose 13% to a record $6.5 billion driven by higher management fees and strong net inflows
- • Net interest income up 7% driven by higher deposit balances and higher revolving balances in Card Services
- • Asset management fees up 17% YoY driven by higher average market levels
- • $553 billion in client asset net inflows for the year driving client assets over $7 trillion
- • 1.7 million net new checking accounts and 10.4 million new credit card accounts opened in 2025
JPM YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
JPM Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Firm concluded the year with a strong fourth quarter, generating net income of $14.7 billion excluding a significant item.”
— Jamie Dimon, Q4 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% |