JPMorgan Chase's Q1 2025 earnings report

JPMorgan Chase Q4 Earnings Beat Expectations: EPS $4.81, Net Income $14B, AUM $4.0T

Jan 15, 2025, 12:26 PM

JPMorgan Chase & Co. reported its fourth-quarter earnings for 2024, surpassing expectations with an adjusted earnings per share of $4.81 compared to the consensus estimate of $4.03. The company's managed revenue reached $43.7 billion, exceeding the expected $41.0 billion. Key highlights include a 10% year-over-year increase in revenue to $43.74 billion, and a 58% rise in earnings per share to $4.81. The bank's net interest income was reported at $23.5 billion, slightly above the estimate of $23.07 billion, though it experienced a 3% decline year-over-year. Investment banking revenue was $2.60 billion, just above the estimate of $2.56 billion, while FICC sales and trading revenue reached $5.01 billion, surpassing the estimate of $4.37 billion. CEO Jamie Dimon commented on the persistence of inflation and noted an optimistic business outlook, encouraged by expectations of a pro-growth agenda. Additionally, the bank's net income was $14 billion, assets under management grew to $4.0 trillion, and credit costs were $2.6 billion. The bank's expenses totaled $22.8 billion with an overhead ratio of 53%. The return on equity was 17%, higher than the expected 14.1%, and the return on tangible common equity was 21%, above the expected 17.2%. The provision for credit losses was lower than anticipated at $2.63 billion against an estimate of $3.04 billion.