JPMorgan profit rises to record, fueled by investment banking

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Go back to JPMorgan profit rises to record, fueled by investment banking

JPMorgan (JPM) posts strong Q2 earnings, tops expectations

July 12, 2024 7:12 AM EDT

(Updated - July 12, 2024 9:54 AM EDT)

JPMorgan (NYSE: JPM) reported a robust second quarter, with earnings surpassing analyst expectations, but its stock declined, falling over 2% at the open.

The financial giant announced an EPS of $4.40, which was $0.26 higher than the consensus estimate of $4.14.

The firm's net income stood at $18.1 billion, marking a significant 25% increase, bolstered by a $7.9 billion net gain related to Visa shares and a $1.0 billion donation of Visa shares to pre-fund contributions to the Firms Foundation. Net revenue also experienced a notable rise, up 20% to reach $51.0 billion. Excluding the... More