Investing.com -- JPMorgan Chase & Co. (NYSE: JPM) reported second-quarter earnings on Tuesday, sending shares lower premarket despite earnings and revenue beating analyst expectations,

Earnings per share of $7.70 beat the consensus estimate of $5.55. Revenue reached $57.35 billion, surpassing the $50.61 billion estimate and marking a 28% increase from $44.91 billion in the same quarter last year.

The reported earnings per share of $7.70 included significant items totaling $1.56 per share, consisting of a $4.6 billion net gain related to Visa shares and $1.0 billion in gains on certain equity investments.

Excluding these items, net income was $16.9 billion, up 13% from the prior year. The bank’s strong performance was driven by elevated market activity across its businesses, with each line of business achieving record revenue.

Markets revenue surged 35% to $12.1 billion, with Equity Markets revenue jumping 86% due to strong client activity and trading performance. Investment Banking fees increased 30% to $3.3 billion, reaching the highest level since 2021. The Corporate & Investment Bank generated revenue of $24.9 billion, up 27% from the prior year.

"The Firm reported very strong results in the quarter, generating net income of $16.9 billion and an ROTCE of 23%, excluding gains related to Visa and certain equity investments," said Jamie Dimon, Chairman and CEO. "These results were the product of a particularly favorable environment with an elevated level of market activity, as well as rigorous execution, years of consistent investment and thoughtful capital deployment."

Consumer & Community Banking revenue rose 8% to $20.3 billion, while Asset & Wealth Management revenue increased 19% to $6.9 billion. Assets under management reached $5.1 trillion, up 18% YoY.

The provision for credit losses was $2.5 billion, with net charge-offs of $2.4 billion and a $149 million net reserve build. Average loans increased 10% YoY to $1.5 trillion, while average deposits grew 7% YoY.