JPMorgan Chase reported stronger-than-expected third-quarter results, driven by record trading gains and solid investment banking performance.
The bank posted earnings of $5.07 per share, topping forecasts of $4.84, with revenue rising 9% to $47.12 billion, exceeding expectations of $45.4 billion. Net profit climbed 12% to $14.39 billion.
CEO Jamie Dimon said JPMorgan’s trading revenue hit $8.9 billion, marking a record for a third quarter. Fixed income trading jumped 21% to $5.6 billion, while equity trading surged 33% to $3.3 billion — both about $300 million above estimates. Investment banking fees rose 16% to $2.6 billion, slightly beating forecasts.
Dimon credited the performance to a resilient U.S. economy and strong client activity amid global market shifts under President Donald Trump’s administration, whose policies have fueled market volatility and boosted trading.
However, Dimon cautioned about geopolitical uncertainty, tariffs, and sticky inflation, noting JPMorgan is “preparing for a wide range of scenarios.”
The bank’s provision for credit losses rose 9% to $3.4 billion, signaling preparation for potential loan defaults.Year-to-date, major U.S. banks have outperformed regional lenders — the KBW Bank Index is up nearly 15%, while the KBW Regional Banking Index has slipped about 1%.