JPMorgan Chase has reported stronger-than-expected earnings for the first quarter, driven by booming equity trading activity. However, CEO Jamie Dimon expressed concerns about the broader economy, warning of “considerable turbulence” due to geopolitics, trade tensions, and sticky inflation.
The bank’s quarterly profit rose 9% to $14.64 billion, or $5.07 a share, beating estimates. Revenue increased 8% to $46.01 billion, with equities trading generating a surge of $3.8 billion, more than double StreetAccount forecasts.
Dimon noted that tax reform and deregulation can be positives for the economy but also warned about the potential negatives of tariffs and trade wars, high fiscal deficits, and volatile asset prices.
The CEO’s comments come as markets have experienced violent swings since President Trump escalated global trade tensions last week. Dimon urged caution and preparedness, saying companies should “hope for the best but prepare for a wide range of scenarios.”
Source: https://www.cnbc.com/2025/04/11/jpmorgan-chase-jpm-earnings-q1-2025.html