JPMorgan Chase Co
JPM
$315.04 -0.34%
Exchange: NYSE | Sector: Financial Services | Industry: Banks Diversified
Q2 2024
Published: Aug 2, 2024

Earnings Highlights

  • Revenue of $50.06B up 29.7% year-over-year
  • EPS of $6.12 increased by 28.8% from previous year
  • Gross margin of 100.0%
  • Net income of 18.15B
  • ""The reported performance for the quarter was exceptional and actually represents record revenue and net income," - Jeremy Barnum, CFO." - Jeremy Barnum
JPM
JPMorgan Chase Co

Executive Summary

In the second quarter of 2024, JPMorgan Chase Co demonstrated robust financial performance, reporting net income of $18.1 billion, which translates to earnings per share (EPS) of $6.12. This marks a substantial increase from prior periods, supported by significant non-recurring gains related to Visa shares. Management highlighted that underlying performance, when adjusted for these anomalies, reflected a solid core profitability with net income of $13.1 billion and adjusted EPS of $4.40. Total revenues surged to $51 billion, marking a year-on-year increase of 20%, indicating strong operational growth across key business segments, particularly in investment banking and asset management. Management's focus on maintaining disciplined execution amidst ongoing market challenges positions the firm favorably for sustained growth.

Key Performance Indicators

Revenue
Increasing
50.06B
QoQ: 19.45% | YoY: 29.74%
Gross Profit
Increasing
50.06B
1.00% margin
QoQ: 19.45% | YoY: 29.74%
Operating Income
Increasing
26.44B
QoQ: 34.83% | YoY: 51.42%
Net Income
Increasing
18.15B
QoQ: 35.25% | YoY: 25.41%
EPS
Increasing
6.13
QoQ: 37.75% | YoY: 28.78%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 42,768.00 4.81 +10.8% View
Q3 2024 42,656.00 4.37 +7.3% View
Q2 2024 50,058.00 6.12 +29.7% View
Q1 2024 41,908.00 4.44 +9.3% View
Q4 2023 38,600.00 3.04 +11.9% View