JPMorgan Chase Q1 2025 Earnings Summary

Key highlights:
- Net income: $14.6 billion, up 9% year-over-year
- Earnings per share (EPS): $5.07, up 14%
- Revenue (managed basis): $46.0 billion, up 8%
- Return on equity (ROE): 18%
- Return on tangible common equity (ROTCE): 21%
- CET1 capital ratio: 15.4% (Standardized), 15.5% (Advanced)
- Liquidity: $1.5 trillion in cash and marketable securities

Segment highlights:

Consumer & Community Banking (CCB):
- Net income: $4.4 billion (down 8%)
- Debit and credit card sales volume increased 7%
- Mobile customers up 8%
- Card Services net charge-off rate: 3.58%
- Net interest income affected by deposit margin compression

Commercial & Investment Bank (CIB):
- Net income: $6.9 billion (up 5%)
- Investment banking fees up 12%
- Markets revenue up 21%, with equities up 48% and fixed income up 8%
- Securities services revenue increased 7%
- Credit provision: $705 million

Asset & Wealth Management (AWM):
- Net income: $1.6 billion (up 23%)
- Assets under management: $4.1 trillion (up 15%)
- Client assets: $6.0 trillion
- Revenue growth driven by higher market levels and net inflows

Corporate segment:
- Net income: $1.7 billion (up 150%)
- Includes $588 million gain related to First Republic
- Noninterest expenses dropped due to FDIC special assessment release

Capital and shareholder returns:
- Common dividend: $1.40 per share
- $7.1 billion in common stock repurchases
- Book value per share: $119.24 (up 12%)
- Tangible book value per share: $100.36 (up 13%)

CEO commentary (Jamie Dimon):
Dimon highlighted strong business performance, particularly in equities and wealth management. He noted ongoing economic uncertainty tied to inflation, fiscal deficits, and geopolitical tensions. However, he emphasized the firm's strong capital and liquidity position, reaffirming its preparedness to manage through volatile environments.