Reported Q: Q2 2024 Rev YoY: +16.1% EPS YoY: +28.8% Move: +0.10%
JPMorgan Chase Co
JPM-PK
$19.34 0.10%
Exchange NYSE Sector Financial Services Industry Banks Diversified
Q2 2024
Published: Aug 2, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for JPM-PK

Reported

Report Date

Aug 2, 2024

Quarter Q2 2024

Revenue

67.84B

YoY: +16.1%

EPS

6.12

YoY: +28.8%

Market Move

+0.10%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $67.84B up 16.1% year-over-year
  • EPS of $6.12 increased by 28.8% from previous year
  • Gross margin of 57.5%
  • Net income of 18.15B
  • "β€˜We remain comfortable with the current amount of excess capital. And as Jamie has said, we really continue to think about it as earnings in store, as much as anything else.’" - Jeremy Barnum
JPM-PK
Company JPM-PK

Executive Summary

JPMorgan Chase reported a strong QQ2 2024 quarter highlighted by record revenue and solid profitability, supported by a favorable mix of wholesale and consumer franchise momentum. The firm posted revenue of $67.84B, net income of $18.15B, and EPS of $6.13, with ROTCE of 28% including a $7.9B Visa-related gain and a $1.0B foundation contribution; excluding these items, ROTCE was 20%. Core drivers included a 50% YoY increase in investment banking fees and a 10% YoY rise in market revenue within the Corporate & Investment Bank (CIB), alongside continued client acquisition in Consumer and Community Banking (CCB) and robust asset and wealth management (AWM) inflows. Net interest income (NII) and non-interest revenue (NIR) ex-Markets rose modestly and materially respectively, reflecting higher rates, balance sheet mix, and the incremental First Republic portfolio, partially offset by deposit margin compression and net reserve dynamics. The balance sheet remains highly capitalized, with a CET1 ratio at 15.3% and a planned dividend increase to $1.25 per share in 3Q24, signaling a disciplined, earnings-driven approach to capital management.

Key Performance Indicators

Revenue
Increasing
67.84B
QoQ: 2.37% | YoY: 16.06%
Gross Profit
Increasing
39.04B
57.55% margin
QoQ: -2.52% | YoY: 9.37%
Operating Income
Increasing
23.44B
QoQ: 35.52% | YoY: 33.26%
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
Q1 2025 68,907.00 5.07 +4.0% View
Q4 2024 67,007.00 4.81 +8.2% View
Q3 2024 69,667.00 4.37 +13.1% View
Q2 2024 67,835.00 6.12 +16.1% View
Q1 2024 66,264.00 4.44 +21.3% View