This Is How Much Money JPMorgan Makes Every Minute

By Trey Thoelcke Published Apr 11, 7:25AM EDT

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This Is How Much Money JPMorgan Makes Every Minute — © jetcityimage / iStock Editorial via Getty Images

JPMorgan Chase & Co. (NYSE: JPM | JPM Price Prediction) CEO Jamie Dimon warns in his latest letter to shareholders that inflation and interest rates may remain high, and he predicts that artificial intelligence could be as transformative as the internet or even electricity. Wall Street holds Dimon in high regard, so his words receive a lot of attention. Meanwhile, the big bank’s board of directors reportedly considers CEO transition a top priority and has named some possible successors.

The focus here is on the company, specifically how much money it makes every minute. Let’s take a look.

How Does JPMorgan Make Its Money?

JPMorgan revenue totaled around $146 billion last year.

One of the world’s oldest, largest, and best-known financial institutions, this big bank currently operates in four segments that focus on consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. It serves millions of customers, predominantly in the United States, and many of the world’s most prominent corporate, institutional, and government clients. The company was founded in 1799 and has been public since 1978. Its headquarters are in New York City.

More than 40% of JPMorgan’s revenue comes from its consumer and community banking, which includes more than 5,000 Chase Bank branches. Almost as much revenue is generated by its corporate and investment banking segment, and the other two segments make up the balance.

Here is a look at annual revenue and revenue per minute for the past five years:

Fiscal Year	Annual Revenue	Revenue per Minute
2023	$146.01 billion	$277,796.80
2022	$122.30 billion	$232,686.45
2021	$130.90 billion	$249,048.71
2020	$102.47 billion	$194,958.14
2019	$110.13 billion	$209,531.96

How Much Does JPMorgan Really Make?

JPMorgan earned almost $94,300 a minute last year.

Revenue is not the full picture, of course. Net income, also called profits or earnings, is what is left after expenses such as cost of goods sold, taxes, and interest are subtracted. In other words, it is the bottom line (of the income statement), as opposed to revenue, the top line.

Quarterly operating expenses totaled less than $30 billion as the COVID-19 shutdown occurred. By the end of that year, they were a little more than half that much. However, these expenses have risen again, and sharply, coming in at more than $50 billion by the end of last year. Quarterly revenue was nearly $62 billion at the same time. So how has that affected the annual bottom line?

Here is a look at annual net income and net income per minute for the past five years:

Fiscal Year	Annual Net Income	Net Income per Minute
2023	$49.55 billion	$94,273.21
2022	$37.68 billion	$71,689.50
2021	$48.33 billion	$91,952.05
2020	$29.13 billion	$55,422.37
2019	$36.43 billion	$69,311.26

How Has JPMorgan Stock Fared?

JPMorgan shares gain 248% in a decade.

Shares were changing hands for about $55 apiece a decade ago. The stock is up about 249% since then to above $195 a share. The shares recently hit an all-time high of $200.94. But the ride for investors has not been smooth, as the chart for the past five years shows plenty of volatility.

The consensus price target of $205.00 indicates that analysts anticipate the share price will increase by about 5% in the next 12 months. Note that the high price target is $230, but 13 of the 28 analysts (fewer than half) who follow the stock recommend buying shares. (See which
five dividend blue chips J.P. Morgan has as top 2024 picks.)

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.