U.S. bank JPMorgan Chase (JPM) has reported fourth-quarter 2025 financial results that beat Wall Street’s expectations across the board.
The world’s biggest lender announced earnings per share (EPS) of $5.23 U.S., which topped the $5 U.S. consensus estimate among analysts.
Revenue in the October through December quarter totaled $46.77 billion U.S., which beat the $46.20 billion U.S. forecast on Wall Street. Sales were up 7% from a year earlier.
JPMorgan’s profit declined 7% from the same quarter of 2024 due to a $2.2 billion U.S. reserve tied to its takeover of the Apple Card (AAPL) loan portfolio from Goldman Sachs (GS).
Management at JPMorgan attributed the strong print largely to better-than-expected revenue from the bank’s trading operations.
Stock trading revenue surged 40% to $2.9 billion U.S., about $350 million U.S. more than analysts had expected.
Bond trading revenue rose 7% to $5.4 billion U.S., about $110 million U.S. more than anticipated.
Banks have boomed over the past year due to a rebound in Wall Street trading and investment banking, falling interest rates, stable consumer credit, and increasing deregulation.
JPMorgan’s latest financial results come a day after U.S. President Donald Trump threatened to cap credit card interest rates at 10%, sending bank stocks lower as a result.
JPM stock has risen 33% over the last 12 months to trade at $324.49 U.S. per share.
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