JPMorgan Reports $15B Q2 Profit, Down 17% But Beating Expectations

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JPMorgan Chase, one of the world’s largest investment banks, posted a net income of $15 billion for the second quarter of 2025, down 17% year-over-year. Net revenue came in at $45.7 billion, down 10%, but both earnings and revenue exceeded market expectations.



The net interest income rose 2% to $23.3 billion, while noninterest revenue declined 20% to $22.4 billion. The bank set aside $2.8 billion in provisions for credit losses. Net charge-offs were $2.4 billion, up $179 million, mainly in Card Services. A net reserve build of $439 million, primarily in the Wholesale segment, reflected net loan activity and a less adverse economic outlook. In Q2 2024, provisions totaled $3.1 billion, with net charge-offs of $2.2 billion and reserve builds of $821 million.



The Commercial & Investment Bank (CIB) division reported net income of $6.7 billion, up 13%, on net revenue of $19.5 billion, up 9%.



Within CIB:

  1. Banking & Payments revenue was $9.2 billion (+3%)
  2. Investment Banking revenue rose to $2.7 billion (+9%)
  3. IB fees totaled $2.5 billion (+7%), driven by stronger debt underwriting and advisory fees, partially offset by weaker equity underwriting
  4. Markets & Securities Services brought in $10.3 billion (+15%)
  5. Markets revenue rose to $8.9 billion (+15%)
  6. Fixed Income: $5.7 billion (+14%), with growth in FX, Emerging Markets, Rates, and Commodities
  7. Equities: $3.2 billion (+15%), led by strength in derivatives


CEO Jamie Dimon commented:

"Each line of business performed well. In CIB, Markets revenue climbed to $8.9 billion as we helped clients navigate early-quarter volatility. IB activity started slow but picked up as market sentiment improved, pushing IB fees up 7%. In CCB, we added roughly 500,000 net new checking accounts, boosting deposit balances. In AWM, asset management fees rose 10%, with continued net inflows of $80 billion, bringing client assets above $6.4 trillion."



Dimon also addressed the macro outlook:

"The U.S. economy remained resilient this quarter. Tax reform completion and potential deregulation are positives for economic prospects. However, significant risks remain, including tariffs and trade uncertainty, deteriorating geopolitical conditions, large fiscal deficits, and elevated asset prices. As always, we hope for the best but prepare the firm for a wide range of scenarios."