JPMorgan Chase's earnings call presented a mixed outlook. While there were significant achievements in net income and growth in commercial banking and asset management, the decline in overall revenue, increased expenses, and challenges in home lending and credit costs presented notable challenges.

Company Guidance -

Q3 2025

During JPMorgan Chase & Co.'s second quarter 2025 earnings call, CFO Jeremy Barnum reported a net income of $15 billion with an EPS of $5.24 on revenue of $45.7 billion, achieving a return on tangible common equity (ROGCE) of 21%. The firm experienced a 10% year-on-year decrease in revenue primarily due to lower rates and deposit margin compression. Expenses rose by 5% to $23.8 billion, driven by compensation and higher auto lease depreciation. Credit costs totaled $2.8 billion, including net charge-offs of $2.4 billion. The CET1 ratio fell by 40 basis points to 15% due to capital distributions and increased RWA. JPMorgan revised its net interest income (NII) guidance to $95.5 billion, with adjusted expenses expected at $95.5 billion. The firm maintained a cautious outlook amid an uncertain environment but highlighted optimism in areas like investment banking and card services.

Strong Net Income and EPS

JPMorgan Chase reported a net income of $15 billion and an EPS of $5.24, reflecting solid financial performance for the quarter.

Commercial and Investment Banking Growth

CIB reported net income of $6.7 billion on revenue of $19.5 billion, which was up 9% year on year. Investment banking fees increased by 7%, and advisory fees rose 8%.

Asset and Wealth Management Success

AWM reported net income of $1.5 billion with pre-tax margin of 34%, and revenue of $5.8 billion was up 10% year on year. Long-term net inflows were $31 billion for the quarter.

Strong Consumer and Business Deposits

Average client deposits were up 16% year on year and up 5% sequentially, reflecting increased activity across payments and security services.

Card and Auto Revenue Increase

Revenue from card services and auto was up 15% year on year, driven by higher card NII and revolving balances.

JPMorgan Chase (JPM) Earnings, Revenues Date & History

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JPM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 14, 2025	2025 (Q3)	4.66 / -	4.37	―	―	―
Jul 15, 2025	2025 (Q2)	4.48 / 5.24	6.12	-14.38% (-0.88)
Apr 11, 2025	2025 (Q1)	4.63 / 5.07	4.44	14.19% (+0.63)
Jan 15, 2025	2024 (Q4)	4.09 / 4.81	3.04	58.22% (+1.77)
Oct 11, 2024	2024 (Q3)	3.99 / 4.37	4.33	0.92% (+0.04)
Jul 12, 2024	2024 (Q2)	5.88 / 6.12	4.75	28.84% (+1.37)
Apr 12, 2024	2024 (Q1)	4.17 / 4.44	4.1	8.29% (+0.34)
Jan 12, 2024	2023 (Q4)	3.35 / 3.04	3.57	-14.85% (-0.53)
Oct 13, 2023	2023 (Q3)	3.95 / 4.33	3.12	38.78% (+1.21)
Jul 14, 2023	2023 (Q2)	3.94 / 4.75	2.76	72.10% (+1.99)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

JPM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 15, 2025	$288.70	$286.55	-0.74%
Apr 11, 2025	$226.02	$235.07	+4.00%
Jan 15, 2025	$244.78	$249.60	+1.97%
Oct 11, 2024	$209.44	$218.74	+4.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.