JPMorgan Chase Reports Record $58.5 Billion Annual Profit for 2024, Q4 Earnings Up 50%

Jan 15, 2025, 01:10 PM

JPMorgan Chase & Co. reported a record annual profit of $58.5 billion for 2024, marking an 18% increase from the previous year. The bank's fourth-quarter earnings reached $14 billion, up 50% from the same period in 2023, driven by strong performances in its investment banking and trading sectors. Despite a 3% decline in net interest income to $23.5 billion, the lowest since 2021, JPMorgan's outlook for 2025 remains optimistic with a projected net interest income of $94 billion. CEO Jamie Dimon highlighted the resilience of the U.S. economy, citing low unemployment and healthy consumer spending, but also noted ongoing risks such as government spending, inflation, and geopolitical tensions. Following the earnings announcement, JPMorgan's stock rose over 1% in early trading.