JP Morgan's revenues linked to the bank's investment banking and stock trading contributed to the major bank's unexpectedly high results. According to the news agency Bloomberg, JP Morgan had its most hectic quarter for stock exchange listings since 2021. The major bank is raising its full-year forecast.
Shaky market
Also, sector colleague Goldman Sachs reports above expectations and saw an increase in the number of stock exchange listings. The major bank increased revenues linked to fees for advisory services for, among other things, acquisitions.
According to CNBC, the major bank also profited from the fact that US President Donald Trump's tariff policy resulted in shaky markets for, among other things, government bonds, currencies, and stocks.
Goldman Sachs' net interest income landed at $3.85 billion, compared to expected $2.87 billion. The bank's revenues from stock trading came in slightly lower than expected.
Ongoing uncertainty
JP Morgan's CEO Jamie Dimon, on the other hand, warns in a comment that it is an ongoing uncertain world.
"It continues to be a higher degree of uncertainty that comes from complex geopolitical conditions, uncertainty about tariffs and trade, high asset prices, and the risk of continued slow inflation," he writes in a comment.
JP Morgan's adjusted result landed at $47.12 billion. Expected, according to a compilation from Bloomberg, was an adjusted result of $45.48. The result was also above the company's own guidance for the quarter. The bank's net interest income came in slightly below expectations at $24 billion, compared to expected $24.1 billion.
Also, Wells Fargo and Citigroup report above expectations. Bank of America and Morgan Stanley will report on Wednesday.
In American trading, Goldman Sachs' stock falls slightly, with Wells Fargo and Citigroup rising. JP Morgan's stock moves sideways.
