The earnings call presented a strong financial performance with record-breaking revenue and net income, robust growth in Investment Banking and Asset & Wealth Management, and improved expense management. However, challenges such as deposit margin compression, loan growth issues, and higher credit costs were noted. Overall, the positive highlights significantly outweigh the lowlights, indicating a strong position and optimism for future growth.

Company Guidance

During the call, JPMorgan Chase provided comprehensive guidance on its 2025 financial outlook, highlighting several key metrics. The firm anticipates 2025 net interest income (NII) excluding Markets to be approximately $90 billion, with firm-wide NII expected to reach around $94 billion. They foresee a modest compression in deposit margins due to lower rates, with the NII trough potentially occurring mid-year before subsequent growth. Additionally, 2025 expenses are projected at about $95 billion, driven by volume and revenue-related expenses and investments in new products and technology. The firm also reiterated a card net charge-off rate guidance of approximately 3.6% for 2025 and emphasized a robust capital position with a CET1 ratio of 15.7%. Adjustments in capital return strategies, particularly through share buybacks, were discussed to manage excess capital effectively.

Record-Breaking Revenue and Net Income

The firm reported a net income of $14 billion for the quarter and a full-year net income of $54 billion with EPS of $18.22, reflecting strong financial performance across all segments.

Strong Revenue Growth

Revenue for the quarter was $43.7 billion, up 10% year-on-year, driven by higher asset management fees, investment banking fees, and markets revenue.

Investment Banking Success

Investment Banking fees increased by 49% year-on-year, with advisory fees up 41% and underwriting fees significantly up, driven by favorable market conditions.

Record Asset and Wealth Management Inflows

The firm reported record long-term net inflows of $234 billion, with AUM reaching $4 trillion and client assets at $5.9 trillion, both up 18% year-on-year.

Improved Expense Management

Expenses were down $1.7 billion or 7% year-on-year, excluding the prior year's FDIC special assessment, indicating efficient cost management.

Positive Outlook for Investment Banking

With positive momentum and a strong pipeline, the firm remains optimistic about the future of its Investment Banking segment.

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JPMorgan Chase & Co. (JPM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

JPM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 12, 2018	2018 (Q3)	- / 2.34	1.76	32.95% (+0.58)	―	―
Jan 15, 2019	2018 (Q4)	- / 1.98	1.76	12.50% (+0.22)	―	―
Apr 12, 2019	2019 (Q1)	- / 2.65	2.37	11.81% (+0.28)	―	―
Jul 16, 2019	2019 (Q2)	- / 2.82	2.29	23.14% (+0.53)	―	―
Oct 15, 2019	2019 (Q3)	- / 2.68	2.34	14.53% (+0.34)	―	―
Jan 14, 2020	2019 (Q4)	- / 2.57	1.98	29.80% (+0.59)	―	―
Apr 14, 2020	2020 (Q1)	- / 0.78	2.65	-70.57% (-1.87)	―	―
Jul 14, 2020	2020 (Q2)	- / 1.38	2.82	-51.06% (-1.44)	―	―
Oct 13, 2020	2020 (Q3)	- / 2.92	2.68	8.96% (+0.24)	―	―
Jan 15, 2021	2020 (Q4)	- / 3.79	2.57	47.47% (+1.22)	―	―

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

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JPM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 15, 2025	$247.47	$252.35	+1.97%
Oct 11, 2024	$211.75	$221.15	+4.44%
Jul 12, 2024	$205.13	$202.64	-1.21%
Apr 12, 2024	$192.18	$179.75	-6.47%

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.

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